The speaker describes a meeting with someone who has traveled to a place where ancient civilizations once existed. We know from the title that he’s talking about Egypt. The traveler told the speaker a story about an old, fragmented statue in the middle of the desert. The statue is broken apart, but you can still make out the face of a person. The face looks stern and powerful, like a ruler. The sculptor did a good job at expressing the ruler’s personality. The ruler was a wicked guy, but he took care of his people.
On the pedestal near the face, the traveler reads an inscription in which the ruler Ozymandias tells anyone who might happen to pass by, basically, “Look around and see how awesome I am!” But there is no other evidence of his awesomeness in the vicinity of his giant, broken statue. There is just a lot of sand, as far as the eye can see. The traveler ends his story.