The action of the series takes place in a universe where people with superpowers are world celebrities and work for the influential corporation "Vought International", which receives huge profits from their exploitation. However, outside of their heroic roles, most of the characters are distinguished by arrogant behavior and abuse impunity. The series tells about two opposing groups: the "Seven", an elite team of "Vought", and a squad of "Boys" — avengers who want to expose the corporation and superheroes.

The "Boys" are led by William "The Butcher" Butcher, who despises all people with superpowers, and the leader of the "Seven" is a selfish and unbalanced Homelander. At the beginning of the series, Huey Campbell joins the "Boys" after his girlfriend is killed, hit at high speed by one of the participants of the "Seven", namely the-A Train, and Annie January becomes a member of the "Seven" and learns the unpleasant truth about the superheroes she previously admired. The "Seven" team also includes the disillusioned Queen Maeve, the drug addict Train-A, the insecure Underwater, the mysterious Black Noir and the white supremacist Stormfront. The company of "Boys" is complemented by tactical planner Marvin Mother's Milk, a weapons specialist Frenchman and a superpowered experimental Kimiko. The "Seven" is supervised by the head of the company "Vought" Madeline Stillwell, who is later replaced by publicist Ashley Barrett.

The first season shows the initial conflict between the "Boys" and the "Sevens", caused by the fact that Butcher considers the Homelander to be the culprit of the disappearance of his wife Becky. Homelander and Stillwell conspire to get government support for the superheroes, while the "Boys" try to stop them by revealing the secrets of "Vought". Initially unaware that they are opponents in the fight between the "Boys" and the "Seven", Huey and Annie aggravate the conflict when they enter into a romantic relationship, while Butcher does not trust the girl, but this will change over time.