The feature film Aquaman (2018, directed by James Wan) is the most commercially successful superhero movie belonging to the DC Extended Universe. Produced by DC Films and Warner Bros. Pictures, the motion picture portrays a rebellious superhero with an extraordinary physical presence. The paper aims to reflect on the movie Aquaman and its ability to function as a late modern fairy tale. Aquaman’s genre structure includes elements of fantasy, science-fiction and action film. However, the authors work with the assumption that the story is, in its nature, a fairy tale involving late modern means of expression. The first part of the text is largely theoretical, outlining the movie’s importance and defining the genre of a fairy tale in the context of late modern culture. Following the given line of thought, the second part of the paper presents a narrative analysis of the film in question, which is based on Propp’s morphology of fairy tales.