The film's use of visual effects was groundbreaking at the time of its release. The Kraken, in particular, was a notable achievement, bringing a legendary sea monster to life on the big screen. The movie's cinematography is also noteworthy, capturing the beauty and danger of the high seas.

The film becomes a three-way race:

Years ago, Captain Jack was the captain of the Wicked Wench . When he failed to deliver a cargo of slaves for the Company, Beckett branded him a pirate and burned his ship. To reclaim his beloved vessel, Jack made a deal with the devil—specifically, Davy Jones, the ruler of the ocean depths. In exchange for raising the ship (renamed the Black Pearl ) from the depths, Jack agreed to serve one hundred years aboard Jones’ ghost ship, the Flying Dutchman . To delay his fate, Jack has been hunting for the fabled Dead Man’s Chest , which contains the still-beating heart of Davy Jones. Control the heart, control the sea demon.

Critics were split. Roger Ebert loved the "sheer joy of spectacle," while others called it "overlong and convoluted." But history has been kind. In the context of the franchise, Dead Man’s Chest is now viewed as the Empire Strikes Back of the series—darker, weirder, and bolder than its predecessor.