Coolie No.1 is action romance based movie in which, Ranjani (Tabu), is a rich, spoilt and arrogant girl who has a I dont Care attitude towards life. Ranjanis father is a rich Industrialist Koteswara Rao (Rao Gopal Rao) who resides in Singapore. In an incident Ranjani clashes with Raju (Venkatesh) who is a coolie.

Raju vows to do something about Rajinis arrogance and ego. Ranjani goes to Singapore to see her father where she meets up with Bharat (who is none other than Raju who pretends to be Bharat) a modish and rich man in Singapore.

Ranjani is attracted towards Bharat and falls in love with him. Ranjani and Bharat get married after which Bharat reveals the truth. Annoyed, Ranjani and her father want to break this marriage, they try to get Ranjani married to Gopal (Mohan Babu) who is the son of Koteswara Raos friend Buchi Babu (Paruchuri Venkateswara Rao) .

The rest of the story revolves around how Raju puts all out effort to save his marriage and how finally Ranjani realizes her mistake and accepts Raju.