清朝年间,武当派弟子卓一航(原文庆 饰)与练霓裳(黄碧仁 饰)相恋,无奈二人不被同门接受遗憾分开,练霓裳一夜白头成为白发魔女。十几年后悔明大师派徒弟杨云聪(秦伟 饰)、楚昭南(沈辉豪 饰)下山对抗清廷。纳兰将军的女儿纳兰明慧(郭淑娴 饰)与白发魔女的徒弟飞红巾哈玛雅(黄嫊芳 饰)都爱上了杨云聪,杨云聪与明慧相爱生下了女儿易兰珠(郭淑娴 饰),但却因身份悬殊而分开。明慧被迫嫁给了多铎王爷,杨云聪跟飞红巾也因误会而决裂,飞红巾也一夜白头,但她却收养了易兰珠。若干年后,楚昭南投靠清廷为非作歹,易兰珠长大成人后也难逃红颜白发的命运,为了对付楚昭南,杨云聪与飞红巾冰释前嫌,二人合力终于铲除了这一武林大害。而卓一航与练霓裳的纠葛也终于结束。本剧改编自梁羽生的武侠小说《白发魔女传》《塞外奇侠传》和《七剑下天山》。
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