Masters of Magic is the fifth (thirty-fifth (ninth) on Fox Kids) episode from the animated series, The Magician.
A young girl possesses magical powers and wants to be trained as a magician, is working with a stage magician named Yago as his assistant. She is trying to master of her new tricks, levitating a tambourine while playing it, but Yago tells her that she is bad and will never make it. When she says she will search for a new teacher, he orders her to stay. In Yago's opinion, Ace Cooper is only a second-class magician, pushed to stardom by the media. Mr. Alexander Zanoni, the owner of the club gives her the address of Ace and tells her to go and see him. Yago (who thinks he's the greatest magician alive) is furious and he scares his audience with a magic trick that includes a fiery dragon and a phoenix, ruining the club.
Meanwhile, Ace and Cosmo are driving by Electro City's bank and discover Spade and Diamond taking pictures of the building. Ace and Cosmo pursue them and the two run into a lamp post. Ace mumbles that Blackjack is planning something. Back at the Ring Theater, the girl, whose name is Celine, runs into Ace and asks him to be her teacher. Ace accepts her as a backstage assistance and will train her. Ace tries a trick with the levitation of a whole train. The train levitates because of a complicated program and some kind of magnetic field A masked stranger enters the control center under the stage, initiates a fire alarm to draw Cosmo out of the nerve center, then steals the program and destroys the controls.
The train crashes onto the stage. Ace survives because he was standing on a trap door. Ace goes visit Alexander and sees the devastating state the club is in. Alexander tells him it was Yago. In a flashback, Young Ace wanted to be trained as a magician by Yago, but he tells Ace that his useless tricks will never make him a great magician and he refuses to accept him as a student. Alexander also tells him that he sent Celine to Ace so she can be trained. The stranger under the stage was Yago, who now goes to the Croesus Palace to offer his services to Blackjack to help him steal the money transport to Electro City Bank. Blackjack accepts the offer and they pull the theft off. Ace, hearing about the theft, that the money truck was floating, knows what must've happened.
He confronts Celine, who says she's innocent and doesn't work with Yago. She says that Yago promised her tons of gold if she returns to him, but she refused. Ace finally finds Yago at Croesus Palace where Blackjack and Yago have ended their friendship. Yago and Ace engage in a magical battle. Yago accuses Ace of ruining his career. So they had a deal. If Ace wins, Yago has to give himself up and return the gold. However, if Yago wins, Ace has to step down for magic and never perform again.
- Alexander Zanoni