Yuvaraju is a romantic-based movie in which Srinivas (Mahesh Babu) just returns to India and joins a college in Hyderabad. There is this sexy dame called Srivalli (Saakshi Sivand) that attracts him with her looks. As we proceed a little bit we come to know that there is a friend for Srivalli called Vamsi (Venkat) in abroad whom she regards as her best friend and keeps him close to her heart as when a plane crashed 20 years back these two are the only survivors of the tragedy.
Finally Srinivas and Srivalli comes to know that they are in love with each other. They break the news followed by a lavish engagement ceremony. For the placid viewers then comes the excitement in the form of Srilata (Simran) who arrives in nick of time to attend the engagement. Srivalli comes to know that these guys know each other in abroad from the brief observation at her engagement ceremony.
The rest of the story is about who is Srilatha and what happens to Vamsi' love.