Act One

Sam, a talking snowman, explains to the audience that Christmas was almost cancelled one winter. He introduces us to Christmastown (the North Pole). Mrs. Claus and Santa Claus enter, bickering over whether Santa is eating enough. Sam marvels at the excitement of the season ("A Holly Jolly Christmas").

Donner and Mrs. Donner name their newborn baby reindeer Rudolph and discover that he has a unique quality: a red nose that lights-up! Santa enters and assures Donner that if Rudolph's nose stops shining by the time he's grown up, he has a chance to join Santa's reindeer sleigh team ("Jingle, Jingle, Jingle"). Donner decides to hide Rudolph's nose.

A year passes, and Donner is raising Rudolph to be like all of the other young bucks. Sam introduces the elves, hard at work in Santa's castle, getting toys ready for Christmas Eve (“When Santa Claus Gets Your Letter”). Hermey, one of the elves, is tired of making toys and wants to become a dentist. Boss Elf reprimands him, telling him all elves are supposed to make toys and nothing else.

Donner makes Rudolph wear a fake nose, despite his objections.

Another Christmas goes by. Rudolph meets Fireball, a fellow young buck. Fireball takes him to the Reindeer Games, where Rudolph catches the eye of Clarice, a doe. Coach Comet enters and has the young reindeer line up to learn to fly. While Rudolph waits for his turn, Clarice comes up to him and introduces herself. When it's his turn, Rudolph successfully flies on the first try, impressing everyone - including Santa. Rudolph's fake nose falls off, and everyone starts calling him names. Coach Comet kicks him out of practice. Clarice finds Rudolph and walks home with him, unphased by his nose. She encourages Rudolph to have a more positive outlook about his future ("There's Always Tomorrow"). Clarice’s Father finds them and orders Clarice to go home. He warns Rudolph to stay away from her

 Boss Elf has the elves perform a new song for Santa ("We Are Santa's Elves"). Boss Elf finds Hermey working on a doll's teeth and yells at him for skipping chorus practice. After Boss Elf storms out, Hermey declares that he quits.

After leaving Santa's castle, Hermey meets Rudolph and the two immediately bond over being different from everyone else ("We're A Couple of Misfits"). Bumble the Abominable Snow Monster appears nearby, and the two hide, fearing Rudolph's nose will attract the Bumble. Feeling guilty about how he treated Rudolph, Donner sets off to find him. Mrs. Donner and Clarice also search for him.

Yukon Cornelius, a prospector, finds Rudolph and Hermey stuck behind a snow bank. Bumble appears again, but this time Cornelius chips away at the ice, enabling them to float away from Bumble. Cornelius invites Rudolph and Hermey to tag along with him in his quest to get rich and famous ("Fame And Fortune").

Act Two

Sam explains that Hermey and Rudolph have joined Cornelius, who only has silver and gold on his mind ("Silver And Gold").

A thick fog has spread all over the North. Rudolph, Hermey, and Cornelius are lost and arrive at the Island of Misfit Toys. The island's inhabitants, the Misfit Toys, tell them why they're here and how they wish they could be given as Christmas gifts ("The Most Wonderful Day of The Year").

The Misfit Toys bring Rudolph, Hermey, and Cornelius to King Moonracer, ruler of the island. Moonracer allows them to stay the night if they promise to return to Christmastown and tell Santa about the homeless toys. Not wanting to endanger his friends by attracting Bumble with his nose, Rudolph decides to set out on his own ("There's Always Tomorrow (Reprise)").

Rudolph returns to Christmastown and can't find his parents. Santa tells him they and Clarice have been gone looking for him for months. With Christmas Eve only two days away and no Donner, Santa is worried his sleigh won't be able to take off. Determined to fix this, Rudolph promises to find his parents and Clarice - just as a giant snowstorm hits Christmastown ("The Snowstorm").

Rudolph goes to Bumble's cave to find them and sees that they are held captive. Rudolph faces off against the Bumble, only to be knocked unconscious. Hermey and Yukon Cornelius, who have been looking for Rudolph, show up just in the nick of time. Yukon fights the Bumble and tragically falls off the cliff.

Back in Christmastown, Sam tells us that the elves have prepared a new musical number for Santa (“Rockin’ Around The Christmas Tree”). Santa joins in and loves it, just as Rudolph, Hermey, Donner, Mrs. Donner, and Clarice return. Santa promises Rudolph that once the snowstorm has passed, he will find homes for the Misfit Toys. Boss Elf tells Hermey that he can open up a dentist's office after Christmas. Donner apologizes to Rudolph for being so harsh to him. Yukon Cornelius miraculously returns and brings along the newly tamed Bumble, who puts the star on top of the tree.

It's Christmas Eve, and all of Christmastown is rushing to get ready ("We Are Santa's Elves (Reprise)"). The storm hasn't gone away, and Santa resigns to cancelling Christmas, but then has an epiphany: Rudolph's bright nose can guide the sleigh! Santa asks Rudolph to lead the sleigh team. Christmastown rejoices ("Holly Jolly Christmas (Reprise)").

The Misfit Toys worry that Rudolph forgot his promise - only to see Rudolph and Santa arrive to deliver them children around the world (“Merry, Merry Christmas To You”)!

And, as Sam says, "the rest is history" ("Rudolph The Red-Nosed Reindeer").