In this romantic story of Snow.Wolf.Lake, Chan Chung Ling is Snow - the rich, beautiful, lively and kind- hearted girl who fell in love with her family's gardener, Wolf (Jacky Cheung).
Snow and Wolf first met each other at a party at Snow's house, where Wolf, in trying to protect his precious flowers from being picked and destroyed by Snow's suitor, Leung Jik (Michael Tse), broke into a fight with him. It was from this incident that Snow and Wolf fell in love with each other. Snow, because she was moved by Wolf's down-to-earth character and his selfless action in trying to defend something as simple as flowers, and Wolf, by Snow's beauty and because he had never met anyone as extraordinary as her.
Later on, Snow had the chance to visit Wolf's home, and while the two were standing in the balcony of Wolf's house (an old church), some shooting stars flew by. The two then talked (sang) about their ambitions, with Wolf saying he wanted to grow a type of flowers that could represent love, and Snow, saying that she hope to be able to create music (with her violin) so beautiful that it could represent love too. Snow then asked Wolf what he would name his flowers, and Wolf answered shyly, "Snow". The two fell even deeper in love with each other.
While on another date, Snow told Wolf of her wish to pursue her violin studies in Vienna, and she urged Wolf to go with her. She also hoped to build a beautiful house by a lake. The two decided that they would name the lake as Snow.Wolf.Lake so that it would signify their love for each other.
All seemed to be going well for the lovers until the jealous Leung Jik came to know about the two's secret relationship. In his attempt to break up the couple, he tricked Wolf into thinking that he (Wolf) would never be able to provide Snow with a good life and would only make her miserable if they stayed together. The simple Wolf fell for Leung Jik's trap and deliberately set fire to a building so that he would be arrested, and therefore, Snow would leave him. To make it seem more convincing, Wolf even went as far as to tell Snow he did not love her anymore. Snow was devastated, and Leung Jik took the opportunity to persuade her to go to Vienna with him. The two (Snow and Wolf) were thus separated forever.
While in jail, Wolf suffered a lot. It was also while serving his time there that he learnt Snow had married Leung Jik. He was very heartbroken. He almost lost all will to live, until he met an old man (the Wolf Fairy). The wolf fairy encouraged him to be faithful with his love, and he gave Wolf some seeds which would later grow into 'Snow', the flowers he wanted to name after after his one and only love. When he was released, he met Yuk Fung (kit Chan). The latter had been in love with him all the while but he failed to notice this.
Yuk Fung hoped that she would be able to replace Snow in Wolf's heart one day, but it was no use. Wolf could not forget Snow. Soon, he learnt Snow had married Leung Jik because she thought that he had died in prison. Since then, she had been living very unhappily.
Wolf decided to go to Vienna to look for Snow. They met at an open auditorium where Snow was performing. Snow ran away when she saw Wolf, and the two lost each other in the crowd. Towards the evening, it was announced in the news that Snow had been murdered by her husband , and her body was found lying at the bottom of a lake. Wolf felt that all hope was lost. Suddenly, the wolf fairy appeared again. Through the Time Slot, he assisted Wolf to travel backwards in time, to the scene where Snow would be murdered.
Wolf arrived to find Snow and Leung Jik in a heated argument. Snow had confronted Leung Jik about the lie he told her (about Wolf being killed). She wanted to leave him (Leung Jik) and in a fit of anger, he tried to kill her, saying that if he could not have her, he would not allow Wolf too. Wolf rescued Snow from Leung Jik, and while the two were trying to escape, Leung Jik aimed his shotgun at Wolf. At the last minute, Snow darted in front of Wolf and she was shot instead.
As Snow lay dying in Wolf's arm, she said sorrowfully that she was sorry she did not keep her promise about waiting for him. At her deathbed, her last wish was to be able to remember their feelings for each other forever....