The fearless American journalist and fashion photographer Emanuelle travels throughout the world in search of a good story for her editor. She is a globe-trotting reporter who is not afraid to disrobe in the name of investigative journalism.
In this third installment, Emanuelle goes to Europe to investigate the private harem of wealthy tycoon Eric Van Darren, where she watches a naked woman masturbating a horse named Pedro before having a sapphic encounter in a steam room. She also meets the Italian Duke Alfredo Elvize and travels to his house in Venice where she ends up in a threesome with him and his wife. She also likes to see for herself what really goes on at diplomatic parties, observing and finally taking part in an orgy at a party the couple throws.
Then, Emanuelle is sent to a private holiday resort island where women pay for men to fulfill their ultimate carnal desires. There she discovers a couple watching a disturbing snuff film for sexual titillation and becomes determined to find out who made it, thereby stumbling upon a group that uses kidnapped girls for the production of snuff films.
Emanuelle takes several pictures with a small spy camera installed in her necklace and eventually gets caught. She has a brush with death, which leaves her wondering if it is perhaps time to hang up her camera for good. Loaded with plenty of photos for her story, Emanuelle returns to New York City to meet her editor, who, however, refuses to print the story and images.
Emanuelle is disgusted and quits her job to go on a long vacation with her boyfriend.