In the Himalayas, after a failed rescue mission results in a raccoon falling to its death (a parody of Cliffhanger), Ace Ventura has an emotional breakdown and joins a Tibetan monastery. Once he has recovered, he is approached by Fulton Greenwall, a British correspondent working for a provincial consulate in the fictional African country of Nibia. Because Ace's presence is troublesome to the monastery, the Grand Abbot gives Ace excuses to justify his departure, and sends him off with Greenwall.

Greenwall is subjected to Ventura's eccentric behavior when he starts mimicking different mating calls, and his dangerous driving when they head off to Africa, warning him about the hostility of eastern lowland gorillas as it is mating season. Greenwall wants Ventura to find the Great White bat 'Shikaka', a sacred animal of the Wachati tribe, which disappeared shortly after being offered as dowry of the Wachati Princess, who is set to wed the Wachootoo Prince to form armistice and peace between the two people. After arriving in Nibia and meeting with consul Vincent Cadby, Ace begins his investigation, but must overcome his intense fear of bats in order to succeed.

Accompanied by his capuchin monkey, Spike, Ace begins his search for the missing bat. He eventually befriends the tribe's princess, who tries to seduce Ace. However, Ace admits his oath to celibacy, but quietly masturbates in a hut afterwards. Ace also befriends the tribal prince, Ouda, who assists Ace. Ace's investigation involves eliminating obvious suspects—animal traders, poachers, and a Safari park owner among others—and enduring the growing escalations of threat between the Wachati and the Wachootoo. After being attacked with drugged blow-darts, Ace suspects the medicine-man of the Wachootoo of taking the bat, as he strongly disapproves of the wedding. He travels to the Wachootoo tribal village, with Ouda translating the chief's words rather poorly. The Wachootoo mistake Ace as the "White Devil", and have him go through many dangerous and humiliating challenges to gain their trust. He eventually does when his pain makes the chief, entire tribe, and even Ouda laugh for the first time in years. Despite this, if the bat is not returned in time, the Wachootoo will declare war on the Wachati tribe. As a last joke, Ace is shot in the butt by a non-drugged blow-dart by the Chief. As he and Ouda walk back to the village, Ace realizes the dart he was shot with earlier is not the same as the one he was just shot with—meaning the Wachootoo didn't take Shikaka. He eventually finds two Australian poachers with the bat, and he distracts them by mimicking a Silverback mating call. Unfortunately, they don't fall for it and shoot the initial darts into him and take him away.

After coming to, Ace tries to figure out how the poachers are involved with the war between the tribes. Confused by the case, Ace consults the Grand Abbot via astral projection. Advised by the Abbot, Ace deduces that Cadby has taken the bat and hired Ace to divert suspicion from himself, having planned to let the tribes destroy each other so that he can then take possession of the numerous bat caves containing guano to sell as fertilizer worth billions. When Ace confronts Cadby, he learns he was hired as Cadby's alibi, and is arrested by tribal security chief Hitu. Ace calls an African elephant to escape, and summons herds of jungle animals to destroy Cadby's house. Cadby tries to shoot Ace, but is stopped by Greenwall who punches him in the face. Cadby escapes with the bat in a car, but Ace follows him in a monster truck. Ace destroys Cadby's car, leaving the bat cage lodged in a tree.

Ace, despite his chronic fear of bats, bravely yet dramatically returns the bat just as the tribes are about to meet on the battlefield. Cadby, watching nearby, is discovered by Ouda. Ouda calls him the "White Devil" to give Ace more time, and Cadby is pursued by both tribes. After escaping, he breathes deeply and heavily, then encounters a female amorous silverback eastern lowland gorilla that mistakes his breathing for a mating call and he is subsequently raped by the ape. The Princess is married to the Prince, who is revealed to be the man who humiliated Ace during one of the Wachootoo tribal challenges earlier. Moments later, it is discovered that the young bride is no longer a virgin, apparently on Ace's account. Despite this, peace between the once-separate tribes is achieved, when everyone joins together and furiously chases after Ace.

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