In a small Spanish town, beautiful teenager Silvia falls for Jose Luis, the son of the local underwear factory owner. When Silvia becomes pregnant, Jose Luis promises to marry her, but his mother Conchita is against the union, viewing Silvia as a gold-digger. Conchita hires Raul, a charming and virile ham delivery driver, to seduce Silvia and break up the relationship. However, Raul falls for Silvia, and the two begin an affair. Meanwhile, Conchita becomes obsessed with Raul and starts an affair with him, while Jose Luis turns to Silvia's mother Carmen for comfort. As the complex web of relationships becomes increasingly tangled, loyalties are tested, and tragedy strikes in a shocking and surreal climax.

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Some movies that have similar genres and were produced around the same time as Jamon Jamon include Life Is Beautiful, Forrest Gump, Can't Buy Me Love, Cocktail, Say Anything, Fools Rush In.