Galoob produced action figures from 1983 to 1985 after the show's cancellation, attempting to tap into the He-Man boom. The first series was re-released alongside the second and third series of figures with "laser light" stone-sparking action. Evil characters were packaged with demons while good characters were packaged with Trobbits. Trobbits were also packaged individually with Rif, Terra and Gossamer being the tougher ones to find.

Warlock the dragon and the Space Ship were each released in two color variations. Also released were Triton, Kadray's flying bull, the Trobbit Wind Machine and Battle Wagon. The Ice Castle was constructed with very thin plastic, making it very fragile.

In Greece, Blackstar action figures (the "laser lights" with stone-sparkling action version) were released under the name "Κυρίαρχοι του Σύμπαντος" (Masters of the Universe) by ElGreco toy company, until they were eventually phased-out by the introduction of He-Man and the Masters of the Universe.