Act 1
Doctor Caius accuses Falstaff of having forced his way into his rooms and his two accomplices, Bardolfo and Pistola, of having made him drink in order to rob him. The three accused throw him out. Falstaff realises that he does not have a single penny left and accuses his accomplices of being the cause of his ruin.

He confides in them and presents his latest scheme for obtaining money. He is convinced that Alice Ford and Meg Page, two rich townswomen of Windsor, are both ready to succumb to his charms. He plans to seduce them both and thus restore his finances. He has written each of them a love letter which he asks Bardolfo and Pistola to deliver. The latter, invoking their honour, refuse to serve as go-betweens. Falstaff, in a mighty tirade, launches an attack on honour, this vain notion that does nothing to feed a man, before dismissing his servants.

Alice Ford and her daughter Nannetta meet Mistress Quickly and Meg Page. Alice informs them that she has received a love letter. Exchanging their letters, the two women discover that they are identical. They immediately decide to take their revenge.

Ford arrives in the company of Caius and young Fenton along with Bardolfo and Pistola, who have decided to take their revenge on Falstaff for dismissing them. Men and women alike devise their own plans for revenge. Nannetta and Fenton, who are secretly in love, take advantage of the situation to exchange tender kisses.  

Act 2
Mistress Quickly arrives claiming to bear messages from Alice and Meg. She announces to Falstaff that Alice, in her husband’s absence, awaits him that very afternoon. Falstaff is full of himself. In spite of his age and portliness, women are still ready to risk everything for him. Ford in turn comes to visit Sir John under a false identity. He claims to be in love with the beautiful Mrs Ford whose virtue is such that all attempts at seduction are in vain. Should Falstaff manage to seduce her, then he too might have some cause for hope, since “one slip may lead to another…”.

Falstaff then reveals to him that he has already made substantial progress. Ford is convinced that his wife has betrayed him. Scarcely controlling himself, he remains alone and curses all women in a ferocious monologue. The four women fix the final details of their revenge.
Nannetta is sad: her father wants her to marry Doctor Caius. Her mother and friends swear to prevent the marriage. Falstaff arrives with a flood of gallant remarks and cooing. Meg bursts in pretending to be anxious and announces that Ford has had wind of the rendezvous and is on her heels. Mistress Quickly in turn arrives. It is no longer a joke: Ford really is about to arrive.

They hide Falstaff behind a screen at first and then in a laundry basket. Ford, followed by Caius, Bardolfo, Pistola and several neighbours move heaven and earth to chase out the suitor, whilst Nannetta and Fenton take advantage of the situation to hide behind the screen. The sound of a rather noisy kiss attracts the attention of Ford, who discovers the lovers. Ever angrier, he continues his search throughout the house. Alice returns accompanied by several servants whom she requests to throw the laundry basket through the window. When Ford reappears, he discovers Falstaff splashing around in the Thames.  

Act 3
Falstaff ruminates grimly on the wickedness of the world. Mistress Quickly arrives and explains that he is a victim of circumstances and that Alice is truly sorry about the outcome of the adventure. She hands him a note from Alice proposing a midnight rendezvous at Herne’s Oak. He is to go disguised as the Black Huntsman. Alice explains to her friends how she intends to use the legend of the Black Huntsman to take her revenge on Falstaff.

Each of them has a role to play in the comedy. Ford hopes to take advantage of the circumstances to force Nannetta into a trap and oblige her to marry Caius. Alice dresses Fenton in the same disguise as Caius. As midnight chimes, Falstaff enters, dressed as the Black Huntsman. He begins to court Alice but frightening sounds are heard. Pretending to be afraid, Alice flees. The Queen of the Fairies appears (Nannetta in disguise) and summons the spirits. Terrified, Falstaff throw himself to the ground face down.

All the townsfolk of Windsor arrive disguised as fantastic creatures. They jostle and abuse Falstaff in order to force him to beg pardon for his faults. Suddenly recognising Bardolfo, Falstaff realises that he is once again the victim of a farce. Ford announces that the wedding of the Queen of Fairies is to crown the festivities.

However, two couples, dressed and masked identically, ask for his blessing. When the masks fall, Caius discovers that he has just married Bardolfo, whilst Ford realises that he has just handed over his daughter to Fenton. Ford can but forgive the lovers, and Falstaff concludes, followed by the other characters in chorus, that “Everything in the world’s a jest”.