Eliza Fraser tells the real-life story of a Scottish woman, one of eighteen people aboard the HMS Stirling Castle (captained by Fraser's husband) in 1836, when the ship struck a reef and was wrecked several hundred kilometres north of the Queensland island that now bears Fraser's name. The survivors launched a boat and eventually made it to Waddy Point on the island, but they were soon afterwards captured by the local Aboriginal tribe. Stripped of their clothing and forced to endure slave-like conditions, most of the group (including Fraser's husband) either died from starvation or were killed by the tribe. Fraser was eventually found by an escaped convict, John Graham, who had lived for six years with the local Aboriginal people. Graham is said to have won the confidence of his captors by accepting their customs (including nudity). The film's narrative sees Fraser return to 'civilisation,' where she makes a good deal of money in carnival sideshows telling a sensational version of her experiences.