- New Line/Image Collector's Edition laserdisc features a separate section with one deleted scene (struck from a what appears to be a work print as there is no music and sound is limited to dialogue only). The scene has Mike telling big brother Jody about weird goings-on he has witnessed at the cemetery. Jody then gets Mike drunk and takes him to Reggie's ice cream parlor, where they start a food fight. Then it cuts to a scene the next day where Jody stops by the bank where he works and visits his girlfriend.
- There is a confirmed first workprint cut of the movie that apparently went over three hours long in length. It's been speculated that most of the excised footage from this version though served as padding and unnecessary characterization that merely slowed the overall pacing of the movie. Despite there being over ten minutes of deleted footage being officially released over the years through previous releases of the movie and through recycling in Phantasm IV: Oblivion, much of the missing footage from this first cut has never seen the light of day. However, it has been stated by Don Coscarelli at a screening of Phantasm: Remastered (Frida Cinema, 10/13/18) that he may consider releasing this cut someday through limited distribution after having been asked by a fan.
- 5.1 remix on the "Phantasm: Remastered" Blu-ray has all new sound effects like gunshots, explosions, and background ambiance such as wind noises. The original mono track is included as an option as well though.
- In 1998 MGM re-released Phantasm on VHS to buy. The movie had a Newly Remastered Dolby Stereo Soundtrack. Also, after the movie the video featured 4 Minutes of scenes cut from the movie. The cut fotage was two scenes
- The first involved Mike entering a room with 2 coffins, one is open and a body is inside, the other is closed but Mike hears sounds from inside it and thinks its Reggie. As he tries to open the coffin, Reggie enters the room. When Mike sees him and then realises that something unplesant is in there, together the two close the coffin. Mike then tells Reggie that they need to find Jody
- The second scene had Mike and Jody run into the Tall Man in the funeral home. Jody shoots the Tall Man several times with his shotgun but it has no effect on him. He then knocks Mike onto the floor and picks up Jody by the neck with one hand! Mike sees a fire extinguisher and remembers when the Tall Man reacted badly when he passed by Reggie's Ice Cream truck with its refrigerator open. Mike realises the Tall Man can be hurt by the cold ,so he takes out the fire extingusher and blasts the Tall Man with it as he's about to kill Jody. The Tall Man withers in pain, suddenly he screams and his head explodes splattering yellow blood all over the walls!
- The cable TV version has a extra text in the credits that reads "Enter the Tall Man's Mausoleum if you dare at www.phantasm.com"
- Several other deleted scenes from Phantasm can be seen in the film Phantasm IV: Oblivion including the infamous "Tall Man Rope Hanging Sequence". Another deleted scene that is featured on the DVD has Mike in bed talking to his brother Jody about the Tall Man (with reference to the rope hanging sequence.) Mike: "We can leave him up there forever, though" Jody: "Why not, that rope will last a lifetime" Mike: "Yeah" Jody "Hey, why did you go blow you knob of for?" Mike: "I was trying to save you, dude" Jody: "My kid brother, is one bad mother".
- Another deleted scene from Phantasm that is in Phantasm: Oblivion is 'The Arrival' scene. The scene show Jody and Mike in the Hemicuda driving down a country road. Jody waves to a little boy with his dog on the side of the road. As Jody and Mike drive off, from the opposite direction, the Tall Man's hearse rips onto the road. The little boy's dog runs out into the road. The boy calls the dog back, but it is too late, the Tall Man runs it over.
- Another scene cut from Phantasm, but shown in Phantasm: Oblivion is 'The "Just the wind" sequence. Mike is walking down one of the town's streets at night. Reggie's Ice Cream Truck stops next to him. Mike sees Reggie and jumps in. As they drive. Reggie hears something and he asks Mike if he heard it. Mike replies "It's jJust the wind." Reggie nods. And they drive off. We see the tail light fade off into the darkness.
- The following deleted scenes do not appear in any released version, but were mentioned by Don Coscarelli during the commentary:
- Jody's girlfriend appears in a couple other scenes.
- When Mike is running near the end, he originally ran into a web with a large bug. Director Don Coscarelli decided the bug looked too phony, so it was deleted.
- Due to a mix up while transfering from film to video, early VHS releases were missing part of the scene when Michael, Jody and Reggie are in the "dimentional doorway" room when the lights go out. Originally the scene had them arguing, Michael lighting a lighter and he and Jody running when they see a dwarf, accidently leaving Reggie behind. The mistaken version has the scene jump from the lights going out to where Jody is searching for Michael outside, completely throwing off its continuity and having the scene make no sense.
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