Episode list

While on a business trip at sea for his company, Rokuro Okajima is abducted by the members of the Lagoon Company.

The Lagoon - the mercenaries' PT boat - is chased into a river by the military forces, which are chasing primarily in an attack helicopter. It seems the lightly-armed Lagoon has no chance against the helicopter, but Rokuro formulates a plan involving the boat's torpedoes and a partially-sunken ship lodged in the river canal. After defeating the helicopter, the Black Lagoon brings Rokuro to the realization that he has been written off by his former employer. He elects to stay with the mercenaries, who start to call him by the nickname 'Rock'.

Roanapur is the south Pacific city in which the Black Lagoon operates as 'Lagoon Trading Company', and in which many crime syndicates operate. One of the crime lords, Mr. Chin, takes exception to his former colleague Dutch (leader of Black Lagoon) working for the Russian mafia, Hotel Moscow, operated by a former Soviet military officer known only as Balalaika. To that end, Chin sends a pirate gang after the Black Lagoon while they are at sea. Through gun-woman Revy's skills, Lagoon defeats the pirate gang, and back in Roanapur, Balalaika personally takes care of Mr. Chin's involvement in the crime world permanently.

The Lagoon Company is hired by a collector of Nazi art to recover a painting from a sunken German U-boat. Revy and Rock descend to the U-boat in scuba gear, while the Black Lagoon is attacked by neo-nazis on the surface.

Dutch and Benny are kept at bay by the neo-Nazi ship on the surface, having to dodge a series of TOW missiles, while Rock and Revy continue to fight the intruders both inside the downed sub and underwater.

Dutch takes Revy over to the neo-Nazi ship in order to finish the fight. Revy, incensed by Rock's actions in the previous episode - where he restrained her from going into a definitely suicidal battle with the undersea attackers - goes on a killing spree. Dutch stops her just before she gets to the innocent hired crew of the ship, and straightens her out. Finding the boss of the neo-Nazis, he then discovers that the man who hired him is a Nazi himself, and hired both him and the neo-Nazi group to recover the painting and test the neo-Nazi group's competence. When the whole affair is over, Revy, back on the Lagoon, tells Rock that since he is different from them - mainly referring to his conscience - that she can't work with him any more.

Revy finally regains consciousness and enters into combat with Roberta. The battle is violent, and very balanced at the same time, neither woman gaining the upper hand. Balalaika arrives, surrounding the group with a small army, forcing an end to the fight - for a moment - while she exposits that Roberta is actually an elite ex-resistance fighter from a group of South American rebels. Balalaika strips the duo of their weapons, and they go at it with their fists. This is again interrupted when Garcia begs for Roberta to stop, and he will go home with her.

Season finale. Rock is interrogated by a Japanese man involved with the terrorist group. Revy, entering into a partnership with Shenhua, despite the fact she can barely tolerate the woman, makes plans to raid the terrorist camp and recover Rock. A tremendous battle ensues, with the entire terrorist group chasing the foursome all the way up to the de-militarized zone where the CIA is waiting for the papers. As they arrive, Rock realizes with a panic that the briefcase he'd been carrying was left behind in the terrorist stronghold. Revy tells him not to worry, and pulls the papers out of her shirt, where she'd been hiding them all this time - revealing that she went back to the stronghold to rescue Rock, not for any other purpose. Upon handing over the papers, the Americans give one last parting shot to Revy - calling her "Miss Rebecca", revealing her real name, and telling her that both the Buffalo, NY PD and the NYPD 27th Precinct are still on the lookout for her - a reference to her violent childhood growing up in the United States.

Rock and Revy join Balalaika on a trip to Japan, where she agrees to take sides in a feud between warring yakuza clans.

Balalaika continues making waves in the Japanese underworld. Meanwhile, Rock has another encounter with Yukio - and learns that she is heavily involved with one of the clashing yakuza families.

Balalaika reminisces on her past, recalling that she intended to enter the Olympic rifle shooting event in Moscow 1980 to restore the reputation of her father, and found herself at the front lines in the Soviet war in Afghanistan. Following the war, she and the soldiers formerly under her command joined the Russian Mafia. Yukio severs her ties with her former life by staying late at school with her friend Maki, then being picked up by her henchmen despite Maki's pleas. the new head of the Washimine Group, Yukio orders a counterattack at Hotel Moscow, and Ginji leads the attack. Revy, after picking up a package from Benny with her pistol, goes with Rock to speak with Yukio about withdrawing from the conflict. When Yukio returns home, she is kidnapped by Chaka and his men before Rock arrives. Ginji arrives at the house and Rock convinces him to let Revy aid him in recovering Yukio. When Ginji asks why Rock is aiding him, Rock responds that he cannot accept the notion that Yukio would throw away a normal life for that of the criminal underworld, which Ginji agrees with.

Revy and Ginji unleash on Chaka with brutal force, allowing Rock to grab Yukio and escape. The next day, Balalaika begins the next stage of her plan to violently eliminate the Washimine Group.

Yukio takes action to stop the systematic destruction of the Washimine Group. Later, after Rock confronts Balalaika about her ruthless campaign of violence against Yukio, he suddenly finds himself at gunpoint.

The body count rises as Rock takes desperate measures to force Yukio into giving up on crime. But with so much blood already spilled, it might be too late for her to return to a peaceful, normal life.