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A pirate named Burger-Beard travels to an island to obtain a magical book that tells the tale of SpongeBob and his adventures, and the book can make whatever is written in it come true. Burger Beard discovers that the completing page of the book is missing and seeks to find it to harness the book's power, and the page happens to be the Krabby Patty secret recipe.
Meanwhile, in Bikini Bottom, a celebration is being held at the Krusty Krab. It is soon interrupted by the arrival of Eugene H. Krabs' rival, Sheldon J. Plankton, owner of the Chum Bucket, who uses military material to battle Spongebob and his friends. Plankton sets out a distraction while sneaking into the Krusty Krab to steal the formula, but SpongeBob catches him and they try to keep the formula from each other in a tug of war style, only for it to mysteriously disappear. Krabs accuses Plankton of stealing, despite SpongeBob's insistence of the contrary, and tortures Plankton to give up the formula via SpongeBob's laugh, but it's interrupted by Squidward Tentacles , who tells them of the customers' complaints. SpongeBob tries to make the Krabby Patties for the customers, but finds that they are out of Krabby Patties. Mr. Krabs brings the news to the townsfolk, resulting in Bikini Bottom being thrown into chaos.
SpongeBob then teams up with Plankton after Bikini Bottom breaks in turmoil. They travel back in time to recover the recipe which ends up being a fake, then Sandy Cheeks suggests a sacrifice be made to the Krabby Patty gods. Mr. Krabs and the people blame SpongeBob, but he is saved by the smell of Krabby Patties. The gang follow the smell to the surface where the dolphin, Bubbles, gives them the power to breathe in air. Burger-Beard discovers their plans and sends them to a pelican island via the magic book. Sandy takes out a missing page from the book and using Squidward's ink, SpongeBob writes and gives them superhero powers. They chase Burger-Beard around the streets and finally recover the formula. They return to Bikini Bottom and everything goes back to normal.
- A video game, Spongebob Heropants was released based upon the movie on February 3rd, 2015 for Nintendo 3DS, Playstation Vita, and Xbox 360.
- The movie brought in 82.8 million dollars at the box office worldwide in its first weekend only.