The film follows Lance Barton, a struggling comedian who constantly gets booed off stage. He has big dreams to land a gig in the final amateur night at the Apollo Theater, but his plans are cut short when a semi truck hits him and kills him. Lance is brought up to Heaven where he meets the angels, King (Chazz Palminteri) and Keyes (Eugene Levy) who can help Lance return to Earth.
He finds the body of Charles Wellington III, an old but an extremely rich man (15th richest in America). After being killed by his wife and assistant, he returns, but with the witty character of Lance Barton inside him. Only he and the angels can see himself as himself. Through many humorous moments and issues, he gets Sontee, a girl he saw when he was Lance, to fall in love with him.
All too soon, he is shot by a fellow business man, and returns as Joe Guy, a great comedian who died in a car accident. After performing at the Apollo, the angels King and Keyes tell him he will not remember them, Lance, or Sontee. After that, he remembers nothing. He still has the characteristics of Lance, and proceeds in getting Sontee to fall in love with him yet again, after meeting her in the theater for this first time as Joe Guy.