It was based on Edgar Wallace's 1923 novel The Green Archer, which had previously been adapted into the silent serial of the same name in 1925 by Pathé Exchange.

Bellamy is using Garr Castle as a base for his jewelry-theft ring, and he kidnaps his brother's wife to keep things quiet.

Insurance investigator Spike Holland enters the case, and Bellamy continually dispatches his resident gang to do away with him.

This serial is an example of a fifteen-episode production that could have been rented for a twelve-episode run, as three episodes use an entirely self-contained subplot concerning the theft of a synthetic radium formula.

The serial was released in the US on October 1, 1940, and in Latin America in March 1941 under the title El Arquero Verde (in English with Spanish subtitles).