Double bill of two gentle tales about friendly aliens, hope and rejuvenation. In the first 'Cocoon', three elderly friends in a Florida retirement home (Don Ameche, Wilford Brimley and Hume Cronyn) discover a swimming pool that renews their energy and gives them a new lease of life. The pool is full of cocoons belonging to a group of friendly aliens in human disguise. In 'Cocoon 2', the group, who were taken to a better life by the aliens in the original film, return to Earth for a visit. They help the aliens on a rescue mission to save the remaining cocoons left on Earth, which have become endangered by an imminent earthquake.

A withdrawn, bookish boy called Bastian (Noah Hathaway), who fears his bullying schoolmates and an impending test, steals a mysterious book and reads it in the school attic. He is drawn into the fantasy to such an extent that it soon becomes clear he is the hero needed to save 'Fantasia' from destruction. Bastian's adventures include encounters with a range of magical creatures.