Sentimental Value follows actress Nora (Reinsve) and her sister Agnes (Lilleaas) as their charismatic father, Gustav (Skarsgård), unexpectedly re-enters their lives after years of absence. Once a celebrated film director, Gustav is now planning his long-awaited comeback and wants Nora to star in his new film. But working with her father is the last thing Nora wants. When she turns down the role, American actress Rachel Kemp (Fanning) travels to Norway to take the part Gustav originally wrote for Nora.

Suddenly, the two sisters must not only confront their estranged father—they also find themselves sharing their childhood home with a Hollywood star, right in the middle of their family's deeply personal drama.