Black Beauty begins his life in a pleasant English meadow, nurtured by a wise mother who urges him to always be gentle and hardworking. His first master, Squire Gordon, is a kind and thoughtful man who trains him with patience rather than force. In this stable, Beauty befriends Ginger, a high-spirited mare ruined by early abuse and tight check-reins, and Merrylegs, a cheerful pony devoted to the household children. Life at Birtwick Park is idyllic, filled with kind grooms like John Manly and James Howard, who understand that patience and gentleness cure vicious habits far better than whips.
Tragedy strikes when the mistress falls ill, forcing the household to break up. Beauty and Ginger are sold to the Earl of W, where the fashionable demand for tight bearing-reins causes severe physical strain. Ginger, driven to desperation by the unrelenting pressure, rebels and injures herself, eventually descending into the brutal life of a London cab horse. Beauty is eventually sold as a job horse, enduring various ignorant drivers who overload him and neglect his care, leading to a fall that leaves his knees permanently blemished.
After passing through the hands of a dishonest groom and a series of careless owners, Beauty reaches the lowest depths of misery under Nicholas Skinner, a cruel London cab master. Worn out by exhaustion and heavy loads, Beauty collapses from overwork on Ludgate Hill. Miraculously, he is rescued from the knackers when a kind-hearted gentleman farmer named Thoroughgood buys him at a horse fair, recognizing his fine breeding and gentle nature.
Restored by months of gentle exercise, good food, and the devoted care of the farmer's grandson Willie, Beauty recovers his health and spirit. He is finally sold to his last and happiest home, where he is reunited with Joe Green, a former stable boy from Birtwick Park. Surrounded by kind owners who promise he will never be sold again, Beauty lives out his days in peace, remembering the lessons of his youth.