For as long as crime boss Albert Mendoza (Everett Sloane) has been running a notorious ring of hired hit men, District Attorney Martin Ferguson (Humphrey Bogart) has been hunting him down. But Ferguson cuts a deal with Mendoza's henchman Joe Rico (Ted De Corsia), and the mob boss is finally arrested. However, Rico dies mysteriously before he can testify against Mendoza.

The film argues that sexually explicit materials corrupt young viewers and readers, leading to acts of violence and perverted attitudes regarding sex—including inclination toward homosexuality. Perversion for Profit was serious in its suggestion that pornography could erode the integrity of American culture.