A comedy drama set on Sydney's north shore, The Godfathers centres on nine-year-old Mike Varga and his widowed Hungarian mother. Crippled by the car accident that killed her husband, Maria Varga is confined to a wheelchair. To help financially, she takes in three boarders: Chris (a forty-something taxi driver), Pete (a thirty-year-old commercial photographer) and Gary (a twenty-one-year-old garage attendant who has just moved to Sydney from the country). Mike is an only child and a bit introspective, but the three boarders become fond of him and Mike adopts them as his 'godfathers.' Under their influence, he becomes a happy, outgoing kid, although they are often tested by his youthful ways.
Tensions are frequently raised through the on-going presence of Elizabeth Dent, a Child Welfare Officer who is constantly checking on Mike to see that he is being well cared for. After Pete leaves the Vargases' house to get married, he is replaced by another 'godfather,' Dave.
