An expedition is sent to Faro Island, and on the island they come across a giant ape called King Kong. They manage to capture the beast and bring it to Japan. Kong eventually escapes and begins causing havoc in Japan. Godzilla arrives and the two Kajiu engage each other in a epic battle.

After the box office failure of Godzilla vs. Biollante in 1989 and through 1990 Toho wanted to remake the most successful Godzilla film of all time, King Kong vs. Godzilla (1962). Toho had planned the film to celebrate it's 60th birthday in 1992. Toho approached Turner Broadcasting, who claims ownership of King Kong, to try and buy the rights to use him for the film. Unfortunately Turner asked too much for the use of Kong, so Toho had to abandon the project. A real shame, it would have been nice to see this classic battle revived, and no doubt that it would have been more fitting way to celebrate Toho's 60th birthday then Godzilla vs. King Ghidorah (1991) which was made instead.