The Good Guys[]
- Pinocchio: A wooden boy puppet carved by Geppetto and turned into a living puppet by the Blue Fairy. By the voiced Seth Adkins
- Patty: A new African American wooden girl puppet carved by Gladys and turned into a living puppet by the Blue Fairy returns. By the voiced Mallerie Rigsby.
- Geppetto: A kind and elderly woodcarver who creates Pinocchio and wishes for him to become a real boy. By the voiced Tony Pope.
- Gladys: A new kind and elderly woodcarver who creates Patty and wishes for her to become a real girl returns. By the voiced Jennifer Hudson.
- Dinah: A little Dachshunt. By the voiced Kelly Green.
- Cooko-Loca: A cute little Clock Bird. By the voiced Nika Futterman.
- Jiminy Cricket: A cheerful and wise cricket who acts as Pinocchio's "conscience" and the partial narrator of the story. By the voiced Phil Snyder.
- The Blue Fairy: Who brings Pinocchio to life and turns him into a real boy at the end of the film. By the voiced Rosalyn Landor.
The Other Good Friends[]
- Pete: A brand new England wooden puppet carved by Gordon and into a living puppet. By the voiced Haley Joel Osment.
- Gordon: A brand new kind and elderly woodcarver who creates Pete. By the voiced Mark Hamil.
The Bad Guys[]
- Stromboli: A large, sinister, Italian bearded puppet-maker who forces Pinocchio to perform onstage in order to make money. He speaks in an Italian accent and curses in Italian when he gets angry, though he is identified as a gypsy. By the voiced Chazz Palminteri.
- Honest John & Gideon: A sly anthropomorphic red fox and the film's main antagonist who tricks Pinocchio twice in the film. Honest John's mute and crafty anthropomorphic feline sidekick. By the voiced Denis Rialy and Billy Crystal.
- The Coachman: Owner and operator of Pleasure Island, who enjoys turning unruly boys into donkeys. By the voice Johnasan Harris.
- Lampwick: A naughty boy that Pinocchio befriends on his way to Pleasure Island; he is turned into a donkey on Pleasure Island. By the voiced David Gallagher.
- Creek Whale: The sperm whale that swallows Geppetto, Figaro, and Cleo during their search for Pinocchio. Pinocchio is later swallowed when Monstro is eating, and he and Geppetto reunite. By the voiced Don Knots.