Deewana Tere Naam Ka is a romantic drama. The movie follows the story of two friends - Shankar (Mithun Chakraborty) and Shambu (Danny Denzongpa). Shambu is an orphan, and has always been taken care of by Shankar's mother. Shankar makes a living by ferrying the boat, while Shambu chops trees. Things take a complicated turn, when the two friends fall in love with the same girl, Reshma (Vijayeta Pandit), but Reshma gives her heart to Shankar. This angers Shambu, and he decides to have nothing to do with Shankar or his mother. Later, he returns and challenges Shankar to race him with his motorboat, with a condition that the loser must leave the community. Will Shankar be able to compete with his new enemy with a simple ferry boat, while Shambu has a motorboat?