In 1994, the Justice Department sends George Spota to the Senate Appropriations Committee for approval on a secret project: the establishment of the Time Enforcement Commission (TEC) with the sole purpose of policing time travel. While initially dismissive, Spota convinces them of both the viability and danger of the technology, showing them evidence that changes (ripples) have already begun manifesting, evidenced by arms trafficking shipments paid in gold bullion stolen from the Confederate Army. Senator Aaron McComb volunteers to chair the oversight committee and Eugene Matuzak is nominated as the TEC's first commissioner. Later that day, DC Metro Police officer Max Walker is offered a position with the TEC but debates whether to accept it. That night, he receives an emergency call and is ambushed while leaving home; he and his wife, Melissa, are viciously attacked by unknown assailants. Max witnesses the house explode, killing Melissa inside.
Ten years later, Walker is a veteran of the TEC, which sends him back to October 1929 to prevent his former partner, Lyle Atwood, from using knowledge of the future to financially benefit from the U.S. stock market crash. When confronted, Atwood admits to working for Senator McComb, who is abusing his position and access to time travel technology to raise funds for his upcoming presidential campaign. Fearing McComb will erase him from history, Atwood jumps to his death, but Walker catches him mid-leap and returns them both to 2004. Refusing to testify, Atwood is sentenced to execution and is returned to 1929 where he completes his fatal fall. While both Walker and Matuzak agree that McComb is a criminal, Atwood's refusal to cooperate stalls their investigation until they can gather solid evidence.
Under investigation from Internal Affairs, Walker is assigned a new partner, TEC rookie Sarah Fielding, and together they are sent back to 1994 to investigate McComb. They witness a meeting between 1994 McComb and his business partner Jack Parker, where McComb wishes to withdraw over a disagreement about a new computer chip. They are interrupted by the 2004 McComb, who advises his younger self the chip will become highly profitable. The older McComb specifically warns his younger self that they must not touch because the same matter cannot occupy the same space, then kills Parker. Fielding turns on Walker, revealing she works for McComb. After a shootout with McComb's henchmen, Fielding is wounded and Walker escapes back to 2004.
Walker arrives in an altered future where McComb is now wealthy and a presidential front runner, using his position as a Senator to shut down the TEC. Walker appeals to Matuzak, who has no knowledge of the changes in history and does not believe that any 'ripples' occurred. The two realize that the original time machine prototype was never dismantled and that McComb has access to it, giving him the means and position necessary to neutralize the TEC. Realizing Walker may be right, Matuzak sends him back to the past to restore history, sacrificing himself in the process as he is shot by agents of the now-corrupt TEC.
Back in 1994, Walker finds Fielding in the hospital. She agrees to testify against McComb, but is murdered in her room shortly thereafter. While at the hospital, Walker finds a record of a recent visit by his wife Melissa, discovering she was pregnant. Realizing she will be killed later that night, he finds her and reveals himself to be from the future. She agrees to make sure the 1994 Walker stays home that night.
That night, the 1994 Walker is attacked just as before, the assailants being in McComb's employ, but is unknowingly aided by his older self who has been lying in wait. With the assailants defeated, the 2004 McComb steps in and takes Melissa hostage, confronting the older Walker with the bomb that will blow up the house. McComb knows he will now also die in the ensuing explosion, but is satisfied his younger self will survive and become president with Walker gone. However, Walker reveals he lured the 1994 McComb to the house, who enters the room. Walker pushes the two McCombs together and they merge into a writhing, screaming mass before disappearing from existence forever. The 2004 Walker escapes with Melissa before the bomb explodes and leave her beside his unconscious younger self before returning to the future.
Returning to 2004, Walker finds the future changed once again. Both Matuzak and Fielding are alive, with the TEC at full strength; according to history, Senator McComb disappeared in 1994, preventing the compromise of the TEC and Fielding's corruption. Walker returns home to find Melissa alive and waiting for him with their young son.
Jean-Claude Van Damme as Max Walker
Mia Sara as Melissa Walker
Ron Silver as Sen. Aaron McComb
Bruce McGill as Com. Eugene Matuzak
Gloria Reuben as Sarah Fielding
Scott Bellis as Ricky
Jason Schombing as Lyle Atwood
Scott Lawrence as George Spota
Kenneth Welsh as Sen. Utley
Brad Loree as Reyes
Kevin McNulty as Jack Parker
Gabrielle Rose as Jdg. Marshall
Callum Keith Rennie as Stranger
Steven Lambert as Lansing
Richard Faraci as Cole
based on Timecop, a story created by Richardson, written by Verheiden, and drawn by Ron Randall, which appeared in the anthology comic Dark Horse Comics, published by Dark Horse Comics. It is the first installment in the Timecop franchise.