The song laments the death of Fat Freddie, a character in the film who is run over by a car.
Like most of the music from the Super Fly album, "Freddie's Dead" appears in the film only in an instrumental arrangement, without any lyrics. The song's music is featured prominently in the film's opening sequence and also recurs at several other points. Because of this usage the song was subtitled "Theme from Superfly" on its single release (but not on the album). It is not to be confused with "Superfly", a different song and the second single released from the Super Fly album.