The story is:
Timmy Turner wakes up to his 23rd birthday party with his fairy godparents Cosmo and Wanda. Among the various gifts Timmy receives, Jorgen gives Timmy a copy of the rulebook Da Rules and points out that he loses his fairies whenever he either falls in love or moves out of the house. However, in cooperation with Da Rules, Timmy continues acting like a kid in order to retain his fairies. But when Tootie, now a beautiful and brave do-gooder, arrives in Dimmsdale, Timmy takes immediate interest upon seeing her, much to the fairies' concern because as soon as he falls in love they will be separated from him forever.
Hugh J. Magnate, Jr. arrives in Dimmsdale and plans to destroy the Dimmsdale dogwood tree at the town park in order to build an oil well hotel needed to access a large supply of untapped oil underneath the ground. Much to Magnate's chagrin, his plans fail, due to Timmy secretly wishing for the bulldozer and chainsaws to cease their operations. Later that night, Mr. Crocker meets up with Magnate at a restaurant, where he explains to him that fairies are the cause of Magnate's plans always backfiring. The two devise a plan to capture the fairies and Tootie so that Timmy is unable to stop them.Tootie goes up to Timmy the second she notices him as a twenty-three-year-old for the first time. But the fairies make every attempt to stop the love relationship. While he initially agrees with the fairies' motive, Timmy objects to their actions because he now believes he is truly in love with her, though he still does not yet feel ready to give up his fairies. Despite fulfulling Tootie's wish for a beautiful park around the dogwood tree, Timmy avoids every opportunity to kiss Tootie and tries to explain the situation without giving away his fairy secret. She misinterprets and becomes angry, shouting at him to grow up, before she storms off.
Magnate kidnaps Tootie and takes her to an evil lair inside Magnate Power, his company headquarters, while Mr. Crocker uses a portable fairy incarcerator to capture Timmy's godparents. With Mr. Crocker's help, Magnate is now able to make wishes using the fairies' magic via a remote control. Each wish, though, drains the fairies' magical energies. Magnate wishes for a bottomless ball pit, and betrays Mr. Crocker by throwing him down into it. Tootie, who is kept in a spherical cage, notices the fairies inside their fairy incarcerator and that they are becoming increasingly fatigued due to the magic-draining effect. Tootie eventually manages to escape from the cage; however, she ends up dangling above the bottomless ball pit.
After he learns the news of Tootie's disappearance from his school classmates, Timmy finds his fatigued fairies inside the evil lair of Magnate Power. He saves Tootie from the ball pit and, realizing the only way to save Cosmo and Wanda is to grow up, finally kisses her, expressing his love to the fullest extent, which signifies that he has grown up. Consequently, Timmy's fairies fade away, though their magic energies are restored and all magical effects caused by Magnate are reversed. Confronting Magnate, Timmy realizes he is now all grown up, and he and Tootie leave the building. Magnate is later seen on the front of the newspaper in a straightjacket being sent to a psychiatric hospital, while his former assistant was named to run the Magnate tower saying that solar power will be used. Outside, Jorgen takes the couple to Fairy World before the fairy council, whom establish a loophole in Da Rules allowing Timmy to continue to keep his fairies, on the condition that he makes wishes for unselfish purposes. As a first way to accomplish that, Timmy and Tootie plan to travel and use his fairies' magic to help others around the world proving he has finally grown up and has a magical future with the love of his life Tootie.
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