Prem Deewane is a romantic comedy movie. Radha Pooja Bhatt and Manohar Vivek Mushran love each other and want to get married, but Radha's dad Ashok Saraf does not approve of their marriage as Manohar comes from a poor family. He instructs Radha not to leave the house, but Radha finds a way to escape and goes to Manohar's house. Anticipating more obstacles, they run away, guided by Radha's uncle Natwarlal Prem Chopra. Natwarlal convinces them that they must kidnap a wealthy person and demand a big ransom and take the money to appease Radha's dad.
Radha and Manu meet Ashutosh Jackie Shroff in college. They are college sweethearts who plan to elope and marry but cannot because they don't have money and Radha is still a minor. So they are helped by Radha’s uncle to abduct Ashutosh. But he is way smarter and kidnaps them instead. After spending time with him they come to know about Shivangi Madhuri Dixit his girlfriend who he has lost contact with. When Ashutosh's Dad goes to file a missing complaint the inspector in charge is Shivangi herself. Then it's a riot of laughter as Ashutosh, Radha and Manohar are running from police and Radha's uncle. When finally Shivangi catches up to them, Radha and Manohar plot to bring the two lovers together. That clears the misunderstanding between them and climax shows how Ashutosh's love is revealed to Shivangi, both couples are united with their families, and all's well.