The film begins with a couple making out at a Lovers Lane when they are suddenly attacked by a man wielding a steel hook and killed. We then meet the police chief, who is investigating the killing, and reveals that this is the third in a string of hook-murders at Lovers Lane. The chief sets up a police sting to capture the killer, using his own daughter as bait, but the killer escapes with her. Following a police search, her body is found but the killer is not caught and the murders soon cease.
Several years later, the sheriff has retired. In the run up to Valentine's Day, we meet Jessica Morris and her friends, Jan, Mona, Sean, Mike and Dave. Jessica has a crush on Dave, but is too afraid to ask him out. Meanwhile, another girl who goes to school with them, Annie, is soon dead along with her boyfriend at the local Lovers Lane. The former sheriff, Roy Bradley, is horrified, believing that the killer has returned and is restarting his killing spree from where he left off.
On Valentine's Day, Jan and Sean go to Lovers Lane in Sean's car and they have sex. Suddenly, Jan notices a man watching them and sends Sean to confront him, only for him to be gutted with a hook. Jan tries to start the car but finds that the killer has slashed the tyres. Trapped, she is soon murdered.
Mona is then taken by Mike to a retro drive-in theatre, while Jessica and Dave find themselves together at the local dance. Mona and Mike then go to Lovers Lane but are stumbled upon by the sheriff, Jim Randall, who tells them that they need to leave as it is unsafe. They then discover Sean and Jan's bodies. The killer attacks them and Randall is knocked out, while Mike is stabbed and Mona runs. She tries to phone Jessica for help, but only manages to disclose her location before she too is killed. Jessica and Dave then depart for Lovers Lane.
The find Randall, with Mona's blood on his hands, and mistake him for the killer. Dave attacks Randall, and the sheriff is forced to knock Dave out in self defense. As he approaches the terrified Jessica, he is suddenly shot from behind by Bradley, who tries to console Jessica before revealing himself as the killer. He hoped that he could draw the killer out of hiding and finally bring him to justice by re-sparking interest in the case. Before he can Jessica, he is shot by Dave, who had regained consciousness.
Jessica and Dave share an embrace and are then placed in the back of an ambulance while two young deputies discuss the case, one of them remarking that the original killer remains at large.
The film was followed by Hooked: Lovers Lane 2.
Rooney Mara - Jessica Morris
Jared Padalecki - Dave
Danielle Harris - Jan
Ryan Hansen - Sean
Miranda Cosgrove - Mona
Scott Porter - Mike
Harrison Ford - Roy Bradley
Johnathan Schaech - Sheriff Jim Randall