Synopsis: Dane Dorrance, the son of a wartime frogman, seeks to prove his own diving skills to his father and earn his dad's prize flippers. Dane hunts a sunken treasure ship where he encounters Judy Walton, an aspiring actress trying to win a role in the upcoming film, Sea Devils.
Dane and Judy brave several dangers and eventually locate the sunken vessel. While exploring it, Judy becomes trapped, and Dane is attacked by an octopus. The duo is rescued by a third diver, Biff Bailey, who seeks to recover the treasure to impress his girlfriend.
After fighting off the octopus, the group discovers a sea monster is using the sunken ship as its lair. The monster attacks the divers, who are granted a reprieve from Judy's younger brother Nicky. The divers surface, then Biff and Dane return to destroy the monster with a mine. They succeed, but the treasure is also destroyed. The group decides to remain together calling themselves the Sea Devils.Synopsis uses material derived from dcindexes.com