The narrator begins by clarifying that neither he nor Weary McGrew are skilled anglers. They use basic fishing equipment consisting of a bamboo pole, a cotton line, and simple hooks, sinkers, and corks. On a sunny June day, the two friends find themselves fishing on the bank of a lake near Crystal City, Texas, a region known for its wild surroundings, including panthers, deer, javelinas, and alligators. As the day progresses, the narrator has better luck, catching four perch and a couple of catfish, while Weary struggles to catch anything.

Just as Weary is about to give up, his cork suddenly dives under the water with such force that it nearly pulls him in. Excited by the prospect of catching a large fish, Weary stands up and tries to reel it in, only to find that the pole is bent almost to the point of breaking. To their shock, the line goes slack, and the water begins to churn and move towards the shore. Realizing that something large is coming out of the water, the narrator quickly climbs a tree, followed closely by Weary.

From their perch, they watch as a gigantic alligator emerges from the lake, with Weary's hook firmly embedded in its jaw. The alligator chews up Weary's fishing pole, takes the narrator's caught fish, and then gives them a sly wink before sliding back into the water, leaving the remnants of the pole trailing behind. Dumbfounded and shaken, Weary wonders aloud why the alligator took his hook instead of the many fish in the lake. The narrator suggests they ponder that question at home, clearly eager to leave the lake behind.