Baa Baa Black Sheep is the story of Baba, who is still trying to find his bearings. Baba's father, Charudutt Sharma who is a boring Cashew nut dealer for everyone, reveals to a shocked Baba on his 25th birthday that actually they are a family of hit men since the past 12 generations, and now Baba has to take over as the 13th. On the other hand, Baba's love interest Angelina runs a Beach Cafe.
Her father Brian Morris is a retired art teacher, but fuels his greed for money and excitement, by selling fakes of an old Renoir painting that his family has inherited. With Baba and Angelina, both keeping their respective secrets, problems start when Kamya, an art gallery owner, wants the original Renoir and blackmails the Home Minister, Utpal Shivalkar for it. Drugs, Contract killings and blackmail account for ACP Shivraj entering the scene trying to find out the connection between all the chaos.