In the film, the self-defined "super-villain" takes on his arch-enemy, super hero Metro Man. However, after finally conquering his nemesis, Megamind finds his life pointless without a hero to fight.
So will Megamind find meaning once again?
You'll have to watch to find out.
But more importantly, what was it like for Ferrell to play a character with a blue head? Was he thinking blue the whole time?
Ferrell told "Early Show" co-anchor Harry Smith, "I mean, I wanted green because I've done a lot of market research on the color green. ... Very soothing. But, (having a) blue head is very funny. Contrast it with tight leather pants, which is Megamind's go-to outfit."
Playing Megamind, Ferrell said, wasn't a solo adventure. Unlike many studio booth animated actors, Ferrell had the chance to act with fellow "Saturday Night Live" alum Tina Fey, who plays journalist Roxanne Richie in the film.
As for co-stars Jonah Hill and Brad Pitt, Ferrell said he missed out on working with them. But, Ferrell, said he did get the scent of Brad Pitt after one session.
Photos: Brad Pitt In Focus
Ferrell recalled, "He smells like cinnamon."
For the full interview with "Megamind" star Will Ferrell, click on the video below. "Megamind opens nationwide Friday, Nov. 5.