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Told in a contemporary high school setting, Othello is now Odin (Mekhi Phifer), star of the basketball team and the school's only African American student. Desdemona is Desi (Julia Stiles), the dean's daughter and Odin's girlfriend. Iago is Hugo (Josh Hartnett), the coach's steroid-addicted son, who plants seeds of doubt that fester in Odin's mind, leading them all to a tragically violent fate. Roderigo is Roger (Elden Henson), Hugo's best friend, a rich but troubled student who wants to go out with Desi. Cassio is Michael Cassio (Andrew Keegan), another basketball player and a close friend to both Odin and Desi. Emilia is Emily (Rain Phoenix), Desi's best friend and Hugo's girlfriend. Brabantio is Dean Brable (John Heard), the president of the school and Desi's father. The duke of Venice is the basketball coach, also known as Duke (Martin Sheen). Bianca (Rachel Schumate) is Brandy, Michael's love interest.

The film starts during a basketball game. At the last minute Odin scores the basket that wins the game for his team. Later at an awards ceremony Duke presents the MVP award to Odin for his efforts, an award he shares with Michael. At a party celebrating the victory, Hugo plans with Roger to tell Desi's father that Odin raped her in order to split them up so that Roger can woo her. Roger, however, is only a pawn in Hugo's ultimate plan to destroy Odin.

Later in another game Odin's team wins once again. At the celebration party, Hugo engineers a fight between Roger and a very drunk Michael, who is temporarily suspended from the team. Hugo tells Michael to ingratiate himself with Desi so that she will talk to Odin on his behalf. Soon afterward, Hugo tells Odin that Desi and Michael have been spending a lot of time together, and that she may be cheating on him. Odin doesn't believe this at first but, as he constantly sees Michael and Desi together, he starts to suspect them. Odin questions Desi, but she calms him down and he believes her. In the meantime, Hugo manipulates Emily into stealing a scarf for him that Odin had given to Desi. Hugo, in turn, gives it to Michael in hopes that Odin will believe that Desi gave Michael the scarf, and so is cheating on him.