The third and final installment of the Simon Snow trilogy follows a group of young magicians returning to London after a disastrous trip to America. The World of Mages is a hidden magical society in the United Kingdom, centered around Watford School of Magicks. Simon Snow, once believed to be the prophesied Greatest Mage, lost his magic in a climactic battle in which he also killed his mentor, the Mage, the former leader of the World of Mages. Simon is left with dragon wings he cannot hide without magical help, and he shares a flat with his best friend Penelope Bunce while dating Baz Pitch, a vampire and fellow Watford graduate.
Lady Ruth Salisbury, an elderly magician, tends two enchanted candles in her window, one for each of her missing children. Each candle stays lit as long as the child it represents is alive. Her daughter Lucy disappeared decades ago after a relationship with the Mage, and her son Jamie vanished recently after becoming involved with a charismatic figure promising to restore weak magicians' power.
Simon learns that the Mage left him his entire estate. Despite his guilt, Simon accepts the inheritance to fund a fresh start outside the magical world. Meanwhile, Baz discovers that his stepmother Daphne has abandoned his father and their four young children. Penelope brings Shepard, a Normal (non-magical) American cursed by a demon, to her mother for help. Headmistress Bunce of Watford examines the demon-contract tattoos covering Shepard's arms but is furious to learn he is a Normal. She spells him unconscious and orders Penelope to wipe his memory, but Penelope refuses and flees with Shepard.
Simon moves out of the flat without warning, leaving Baz a note reading only "Baz, I'm sorry." When Baz tracks him down, Simon says he is done with magic, mages, and everything that reminds him of what he has lost, including looking at Baz. Baz tells Simon he loves him and leaves. Unable to stop thinking about Baz's parting words, Simon returns to Baz's flat and admits he never fought for the relationship because he never believed he could keep Baz. Simon tells Baz he loves him for the first time. Baz agrees to try again on one condition: Simon must fight for them rather than give up. They begin rebuilding, going rat hunting so Simon can watch Baz feed and sleeping side by side for the first time. When Simon has a panic attack during intimacy, Baz holds him, and they establish a pattern of honest communication about what each of them needs.
Penelope refuses to abandon Shepard and begins investigating his curse. Shepard reveals he obtained a demon-summoning ritual from a friendly giant and accidentally proposed marriage to a demon. When a multi-armed translator named Debbie deciphers his tattoos, she confirms the contract is a marriage agreement: Shepard is engaged to the demon. Penelope is furious that Shepard hid this but forgives him, their feelings for each other deepening as they work together.
Baz learns that Daphne has joined one of several "Chosen One" groups that emerged after Simon's fall. One figure, Smith Smith-Richards, claims to perform miracles that enhance magicians' power. Baz and Simon visit Lady Ruth, who explains that Jamie became fixated on Smith's promises after a lifetime of being denied entry to Watford because a reading disability impaired his spellcasting. She enlists them to find her son.
At Smith's public meeting, they watch him cast a spell on a volunteer, who immediately produces a powerful conjuration for the first time in his life. Simon is impressed; Baz remains skeptical. At a second meeting, Baz recognizes Philippa Stainton, Agatha's former roommate, among Smith's followers. He is stricken with guilt: In fifth year, Baz used an enchanted tape recorder that accidentally stole Philippa's voice instead of Simon's, and her voice never returned.
Penelope devises a plan to break Shepard's demon engagement. She summons the demon and argues the contract is invalid because Shepard provided a false name, having lost his surname to a fairy. She presents his numerous debts to prove he is more trouble than he is worth, and the demon reluctantly voids the engagement. Shepard's tattoos vanish. Meanwhile, Smith privately casts his healing spell on Simon twice. Simon feels the magic, but nothing happens when he tries to cast.
When the group reunites, Penelope and Baz discover that every spell they cast on Simon bounces off. Smith's spell has made Simon immune to all magic.
Baz recovers the tape recorder from his aunt Fiona and tracks Philippa to Smith's compound. In the basement, they find Jamie living voluntarily in a locked room after his enhanced magic wore off. Philippa, tied up in another room, reveals that Smith's spell is temporary and ultimately strips people of their magic entirely. Baz plays the tape recorder, and Philippa's voice returns.
Simon flies alone into the White Chapel, where Smith is about to cast on six followers before hundreds of spectators. Smith turns the crowd against Simon, but their spells bounce off his immunity. Philippa arrives and publicly exposes Smith's fraud. Simon grabs Smith and flies him through the broken skylight. On the rooftop, Smith reveals he wants to purge weak magicians from the World of Mages so only the powerful remain. Headmistress Bunce arrests him.
In a parallel storyline, Agatha Wellbelove, Simon's ex-girlfriend, bonds with Niamh, a veterinary intern and former Watford lacrosse player. Niamh reveals that the Goats of Watford have guarded the school since its founding; if they leave, Watford loses its magical protections. The herd has been wandering since the death of Ebb Petty, Watford's former goatherd. While the confrontation unfolds in the Chapel, Agatha and Niamh find the pregnant doe laboring beside Ebb's grave in the Wavering Wood, the forest on Watford's grounds. The first kid is stillborn, but Agatha delivers a second one alive. They share their first kiss, and the entire herd follows Agatha back to the barn.
In the aftermath, Philippa tells Baz she will never forgive him but returns his wand. Baz drives Daphne home to her family. That night, he calls Simon and tells him he has never let anyone down. The next morning, Simon and Baz share their first fully physical experience together, marked by gentleness and open communication.
At a celebratory lunch at Lady Ruth's, Simon casually pulls an Excalibur sword from the dining table, a family heirloom that only a blood Salisbury can lift. Lady Ruth and Jamie realize Simon is Lucy's child and therefore the Mage's son. Simon is overwhelmed: The man he killed was his father. Lady Ruth embraces him, calling him her child. Upstairs, Lucy's candle sputters out, signaling she has either died or released her magic. Jamie tells Simon they are family and have been looking for him for 20 years.
Penelope asks Shepard to stay in London, but he has no legal way to remain. He asks her to come to Nebraska or wait for him to return. Simon and Baz settle into domestic life, processing everything Simon has learned. In an epilogue set one year later, Agatha has become Watford's new goatherd, bringing the flock home every evening at sunset.