As the story opens, Thor is with the warriors of Asgard, aboard a sky ship, doing battle with the demons of Jotunheim alongside his father Odin. When the Aesir are victorious, Odin commands his son to return to Asgard to take up his duties as a prince; Thor demurs, insisting he must remain on Earth. Odin correctly divines that it is Thor’s love for Jane Foster that is keeping him bound to Midgard so in anger Odin orders Thor to go where he pleases. Back on Earth, Thor makes the fateful decision to renounce his godhood for Jane’s sake. Turning back to Don Blake, he finds Jane in the office and confesses to her that he has another identity—the mighty Thor….
Meanwhile at a nearby museum, scholars are examining a stone statue which was recently discovered at the bottom of the Hudson River. To their surprise, the statue moves and is revealed to be the Grey Gargoyle, whom Thor (actually Don Blake) sent to the bottom of the river in issue #107. The petrified villain turns his rescuers to stone then heads off to further his original scheme, wresting the secret of immortality from Thor (pausing briefly to recount his origin for the readers)….
In Asgard, Loki takes advantage of Odin’s rage to persuade him of his own loyalty—so Odin removes Thor’s powers…. Back in the medical office, Don tries to prove to Jane that he is Thor by tapping his stick on the floor—but nothing happens. Jane concludes that Don has been working too hard. At that moment, the Grey Gargoyle beaks in, demanding to know where to find Thor. The two mortals flee and make it to an elevator but the villain pursues them down the shaft and into the street….
In Asgard, Thor’s friends choose Balder to head to Earth to protect Don Blake but Loki, claiming to speak for Odin, orders them all to the Eastern Sector of the realm—but Loki does not see a mysterious figure heads down the Rainbow Bridge to Earth…. The Gargoyle pursues Don and Jane through the streets, petrifying everyone in his path until he corners them in an alley. As things look bleak, a hidden figure fires an arrow which burst with light, blinding the villain until the mortals can escape (good thing they weren’t looking too). The Gargoyle quickly recovers and leaps over rooftops to intercept their car and finally has them at this mercy, when the mystery figure grabs Don’s wrist and restores to him the power of Thor for thirty seconds. Don transforms into the Thunder God and makes short work of the villain, channeling electricity through his Uru hammer to fuse the stone molecules together, turning the Gargoyle into an obelisk. The restored power wears off and the mystery ally returns to Asgard, where he is revealed to be Honir the Hunter, dispatched by a concerned Odin to protect his son. Don convinces Jane that his claim to be Thor was a temporary fit and they profess their love for one another.