Odd is a young lame Norseman whose father, a woodcutter, drowned during a Viking raid. His Scottish mother marries a fat widower who neglects him in favour of his own children, and when soon after the winter drags on unnaturally long, Odd leaves his village for the forest. There he meets a fox, an eagle and a bear, the latter with its paw trapped in a tree. Odd aids the bear, and learns that these are not normal animals, but the gods Loki, Odin and Thor. The gods have been transformed and cast out of Asgard by a Frost Giant who tricked Loki into giving him Thor's hammer by taking the form of a woman, granting him rule over Asgard and causing the endless winter.
Deciding to help the stranded gods, Odd travels with them to Asgard. There, Thor leads him to Mimir's Well, and he receives wisdom and a vision of his parents in their youth. He eventually speaks with the Giant, who reveals his brother built the walls of Asgard but was tricked out of payment and killed by Thor. Odd convinces the Giant to return home. In return, the goddess Freya heals his leg, though she cannot mend it completely, and Odin gives him a staff. He returns to Midgard, somewhat bigger than when he left due to drinking from Mimir's Well, and as the winter ends he reunites with his mother.