Tom Ripley is 25 years old. He is poor and lives a frugal and dishonest life in New York City. Out of the blue a rich businessman in his sixties called Herbert Greenleaf asks Tom to go to Italy to persuade his son Richard, "Dickie", 25, to come home. Dickie's mother, Emily, is dying of leukaemia. Mr. Greenleaf mistakenly believes Tom went to Princeton with Dickie.
Tom goes to Italy and makes friends with Dickie, who is living in Mongibello, a small town south of Naples, where he fishes and paints not very good pictures. The only other American in the town is Marge Sherwood. Marge is writing a book.
The friendship between Tom and Dickie soon cools. Tom kills Dickie while they are out in a small boat. He assumes Dickie's identity, living off his trust fund income. One day a mutual friend of theirs called Freddie Miles finds Tom living in Dickie's Rome flat under Dickie's name. When he gets suspicious, Tom kills him, too.
Meanwhile Marge, who is in love with Dickie, cannot understand why he has suddenly abandoned her and his former home in Mongibello. Tom decides to abandon his double life because suspicions about Dickie's involvement in Freddie Miles' death are spread by the newspapers. Tom forges a will in Dickie's name leaving him all Dickie's money. Marge and Mr. Greenleaf accept the idea that Dickie has committed suicide. Tom gets away with murder not once, but twice!