Nacho Libre is loosely based on the story of Fray Tormenta ("Friar Storm"), aka Rev. Sergio Gutierrez Benitez, a real-life Mexican Catholic priest who had a 23-year career as a masked luchador. He competed in order to support the orphanage he directed.

In this Mexican sci-fi fantasy, big beefy Martians invade the earth. Ostensibly, they have come to warn people about the dangers of nuclear testing and exploring space, but their real mission becomes manifest when they begin using their special powers and gadgets to exploit weak earthlings.

Evil mastermind Karla plans a robbery with her powerful army of zombie robots but a superhero group known as Los Jaguares will do anything to stop her.