Reviews provided by RottenTomatoes
If Treat Williams were the Phantom and Billy Zane the capitalist villain would any significant nuances be lost?
As the Phantom, Billy Zane, buff to the max, has a likable insouciance, but there's not much he can do to flesh out this relic.
This is the kind of movie that offers modest entertainment while you're in the theater, but is forgotten by the time you get home.
San Francisco Chronicle:
A lightweight action adventure, derivative in its look and approach. It's strictly for kids, but it's possible to appreciate the picture for what it is.
This belated, albeit decorative adaptation looks tamely second-hand.
While it hardly stands to vanquish the celluloid incarnations of Superman and Batman, this version of an older cartoon crusader's exploits does have a pleasingly astute sense of its place in the great scheme of things pulp.