Compared are the German Theatrical Cut and the US Theatrical Cut, both available on the German DVD released by Universum Film.

The Neverending Story is based on the same-titled bestseller by Michael Ende who was really disappointed after having watched the film (directed by Wolfgang Petersen and produced by Bernd Eichinger). That's why his name doesn't pop up in the opening credits. Nevertheless the film, which was shot in English, became an international success and I consider it as one of the best fantasy films ever (and one if the best German films as well). Two sequels that don't have the quality of the first one, a cartoon series and a TV mini series followed.

The film was released uncut in Germany but the version for the US market was modified. A lot of shots were shortened for a couple of seconds but the differences aren't that huge. The only important one is that the splendid score, composed by Klaus Doldinger, was replaced by a synthesizer score, composed by Giorgio Moroder who's also in charge for the Scarface score for instance.

The first time index refers to the US Version, the one in brakes to the German Version. Due to the tremendous amount of cuts I can't assure that all cuts (even the pretty short ones) are noted.
German Version = 96:43 min
US Version = 90:01 min

00:00 Both versions have different Constantin logos and different opening credits. The credits in the German Version are shown with a black background while a more or less dark score by Klaus Doldinger is being played in the background. The credits in the US Version are shown with some cloud-like images (refering to the flight scenes with Falkor) and the song of LIMAHL is being played.

German Version = 107,6 sec
US Version = 118,2 sec.

German Version / US Version

02:18 [02:08] Bastian awakes from his dream. Only the German Version also shows him switching off the light. Then he sits on his bed, he looks sad. After that we see his father walking down the stairs. He grabs the newspaper and looks in a mirror.
29,4 sec

03:52 [04:10] Shot of Bastian and his father.
3,5 sec

04:05 [04:28] Beginning of a shot of the father.
3 sec

05:07 [05:32] After the father's gotten up, the German Version shows Bastian for a longer period. He greases his bread with butter. The beginning of the following shot of the city starts earlier.
17,9 sec

05:21 [06:04] Beginning of a shot before Bastian's chased by the boys.
4 sec

05:34 [06:21] Shot of the boys chasing Bastian plus a shot of Bastian.
2,3 sec

06:05 [06:54] Ending and beginning of a shot.
1,2 sec

06:37 [07:27] When Bastian's looking around in Koreander's book shop, the German Version is longer.
5,7 sec

06:45 [07:41] Bastian looks around a corner.
3,3 sec

07:24 [08:23] Beginning of a shot.
1,8 sec

07:33 [08:34] Another shot of a beginning.
0,7 sec

07:46 [08:47] A shot of Coreander and a further one of Bastian.
6,9 sec

09:05 [10:13] Bastian wants to know why the book's so important but Coreander's silent.
7,2 sec

09:40 [10:56] The book title's shown in the particular language (no difference).

German Version / US Version

09:48 [11:01] Coreander's phone conversation is longer.
3 sec

09:49 [11:09] Coreander hangs up and the US Version goes on with some cuts to Bastian who takes a book and runs away. The German Version shows Coreander without cuts to Bastian (no difference).

German Version / US Version

10:05 [11:24] A note's shown in its particular language (no difference).
German Version / US Version

10:08 [11:27] Beginning of a shot.
2 sec

10:37 [11:58] Ending of a shot plus beginning of the following one.
3,2 sec

11:04 [12:28] In the German Version Bastian checks the attic more precisely.
20 sec

18:14 [19:59] When the Nothing appears, the US Version goes on with some shots of Rockbiter who starts driving with his scooter. The German Version goes on with a scary Bastian walking up the stairs to the attic. The groundskeeper enters with a lot of lumber and trips up on the pad Bastian put on the floor. He mumbles sth. into his beard and leaves. Bastian, who's hidden, waits till he's left and takes a seat on the pad to keep on reading.
German Version = 64,3 sec
US Version = 5,6 sec

German Version

US Version

19:04 [21:49] Extended shot of the Ivory Tower.
2,7 sec

19:07 [21:53] The same shot again.
1,3 sec

20:51 [23:38] The German Version shows the Nighthob, the US two shots of the residents of Fantasia.
German Version = 3,3 sec
US Version = 4,8 sec

US Version

German Version

21:01 [23:47] A longer shot of Cairon in the German Version, the US shows a shot of the Fantasians instead.
German Version = 2,5 sec
US Version = 3,3 sec

US Version

German Version

21:05 [23:49] Beginning of a shot.
2,2 sec

21:25 [24:12] The German Version shows Cairon without interruption, the US Version is interrupted by a shot of the residents.

German Version / US Version

25:51 [28:39] Ending of a shot.
2,4 sec

25:59 [28:49] The Rockbiter's shown for a longer period in the German Version. The following scenes where Atréju's riding in Fantasia, are arranged differently. The German Version shows two shots, the US some more. The missing ones will be shown later in the German Version.
German Version = 18,9 sec
US Version = 29,2 sec

German Version

US Version

27:01 [29:40] Now the German Version comes up with the scenes already shown in the US Version.
21,6 sec

31:10 [34:11] When Atréju's horse Artax is sinking in the swamp, the US Version is shorter. Two shots are missing.
2,5 sec

31:57 [35:00] In the US Version the image of Atréju's face screens off to a black screen and then to the next scene. In the German Version the black screen doesn't appear, it changes to Atréju directly (no difference).

32:21 [35:24] Beginning of the shot which shows the spot where Artax sank, the swamp bubbles.
3,9 sec

33:47 [36:54] Beginning of a shot that shows Atréju climbing on the mountain.
3,2 sec

34:20 [37:30] Ending of a shot where Atréju's shouting for Morla. The next shot is also shortened.
8 sec

34:26 [37:43] Beginning of a shot before Morla moves.
1,2 sec

35:36 [38:56] Ending of a shot of Atréju.
0,9 sec

The following scene is shown from different angles.
German Version = 5,4 sec
US Version = 5,7 sec

German Version / US Version

35:42 [39:01] Beginning of a shot of Atréju.
0,3 sec

36:08 [39:28] Ending of a shot of Morla.
2 sec

36:20 [39:42] Beginning of a shot before Morla's got to sneeze.
1 sec

36:24 [39:46] Shot of Morla and then Atréju who raises.
3,4 sec

36:30 [39:56] The US Version shows Morla from the right side, the German Version shows the front.
German Version = 8,8 sec
US Version = 4,3 sec

German Version / US Version

36:50 [40:20] Beginning of a shot.
0,7 sec

37:05 [40:36] Ending and beginning of a shot.
1,4 sec

37:16 [40:48] Ending and beginning of a shot.
0,3 sec

37:23 [40:55] Ending and beginning of a shot of Morla.
2,6 sec

37:29 [41:04] Dito.
0,3 sec

37:30 [41:06] Ending of a shot of Atréju and then Morla.
1,3 sec

38:05 [41:41] Ending of a shot of Morla.
1,8 sec

38:08 [41:47] Beginning of a shot of Morla.
2,7 Sek.

38:24 [42:04] Ending of a shot of Atréju.
0,9 Sek.

39:26 [43:09] The lights goes off and the hall is shown longer. The following shot of Bastian begins earlier in the German Version.
3,3 sec

39:35 [43:20] Shot of Bastian at the attic.
1 sec

39:38 [43:25] Bastian turns around panicly, takes his stuff and leaves.
3,1 sec

40:46 [44:36] Beginning of a shot of Atréju walking in the swamps.
3 sec

40:58 [44:51] Ending of a shot from the Gmork's point of view who's dashing in the swamps.
1 sec

41:29 [45:23] Ending of a shot of Falkor going to heaven. The following shot is completely missing in the US Version.
2,4 sec

41:51 [45:47] Beginning of a shot that shows Atréju awaking close to Falkor.
7,2 sec

43:39 [47:42] Ending of a shot of Atréju and then Falkor.
0,8 sec

45:04 [49:08] Beginning of a shot of Atréju.
2,2 sec

46:04 [50:10] Urgl is shown for a longer period.
2 sec

46:07 [50:15] Dito.
0,7 sec

46:09 [50:18] Shot of Engywuck and Urgl.
1,1 sec

46:27 [50:37] Urgl is shown for a longer period again.
0,9 sec

46:34 [50:45] Ending of a shot.
1 sec

46:49 [51:01] Ending of a shot of Atréju and beginning of the next one.
1,3 sec

46:54 [51:07] Dito.
0,6 sec

46:57 [51:11] Ending of a shot of Urgl, then Atréju.
3,7 sec

47:02 [51:19] Beginning of a shot of Urgl.
1,8 sec

47:09 [51:28] Beginning of a shot of Atréju.
0,6 sec

47:16 [51:36] Urgl talks to Atréju about the ingredients of the soup. The German Version is longer here.
5,5 sec

47:19 [51:44] Longer shot of Atréju.
0,7 sec

47:28 [51:53] Urgl makes fun of her husband.
3,7 sec

47:44 [52:12] Ending of a shot of Urgl.
0,4 sec

47:44 [52:14] Beginning of a shot of Urgl.
2,5 sec

48:47 [53:19] Engywuck longer in the basket.
3,8 sec

48:50 [53:27] Ending of a shot.
1,7 sec

55:05 [59:43] Ending of a shot of Engywuck.
0,4 sec

55:35 [60:13] Beginning of a shot, it's snowy.
9 sec

61:29-62:30 [66:16-67:36] Atréjus' flight with Falkor is extended in the German Version. Additional to some further shots, the scenes in the German Version dissolve. In opposite to that the US Version works with simple cuts.
German Version = 80,2 sec
US Version = 61,2 sec

German Version

63:11 [68:18] Shot of the Nothing.
2,7 sec

63:17 [68:26] Dito.
1,8 sec

63:39 [68:50] Ending of a shot of the Nothing.
2,2 sec

64:21 [69:35] Ending of a shot of Atréju at the beach.
0,8 sec

64:26 [69:41] Ending of a shot.
2,3 sec

64:43 [69:59] Dito (see above).
1 sec

65:19 [70:39] Ending of a distance shot of Atréju.
3 sec

67:43 [73:06] Ending of a shot.
3,3 sec

69:19 [74:42] Shot of Gmork talking to Atréju who wants to be left alone. Atréju offers to help him.
7,5 sec

72:16 [77:47] Due to an earthquake Atréju tumbles but he raises again and listens to the Gmork who says that he'd been hunting him for a long time, that he's almost too weak to kill him and that he's gonna get his strength back.
20,4 sec

72:20 [78:12] Ending of a shot of Atréju challenging the Gmork.
2,9 sec

72:34 [78:28] Ending of a shot when the Gmork's jumped out of the cave.
0,9 sec

72:51 [78:46] Before Falkor dives in the lake, the US comes up with a shot of the reflecting surface of the lake. Not shown in the German Version.
+ 4 sec

72:56 [78:47] Falkor jumps into the water, the following shot's extended in the German Version.
1,4 sec

76:39 [82:32] Extended shot of the Ivory Tower.
4,8 sec

76:56 [82:53] Beginning of a shot of the Ivory Tower.
3,5 sec

80:36 [86:37] Bastian runs back to the book.
5,6 sec

80:40 [86:47] Beginning of a shot of the Childlike Empress.
2,4 sec

81:05 [87:14] Ending of a shot of Bastian. He asks himself he's the one the empress was talking about.
4,7 sec

81:13 [87:26] Shot of the Childlike Empress and then Atréju who wants to know what happened if she'd been given the wrong name.
3,4 sec

81:22 [87:37] Atréju wants to know where he was and why he wasn't there. The Childlike Empress replies that he couldn't troust himself.

5,5 sec

81:26 [87:47] The Childlike Empress looks worried.
3 sec

81:30 [87:55] Beginning of a shot of the empress.
0,8 sec

81:33 [87:59] Ending of a shot of the empress.
2,8 sec

81:43 [88:12] When Bastian has hidden under the ceiling, some shots of him, the attic, the Ivory Tower and the Childlike Empress are missing in the US Version. She wants to know if he didn't have the guts to save them and orders him to help.
11,6 sec

81:56 [88:37] Bastian says that he wished he could. Then a shot of the collapsing Ivory Tower.
3,3 sec

82:03 [88:48] Another shot of the Ivory Tower and one of the empress asking Bastian to say her name.
8,1 sec

82:11 [89:04] Ending of a shot of the Childlike Empress. Tears are running down her face.
4,7 sec

82:12 [89:10] The US Version shows the empress from the front. Instead the German Version contains a longer shot of Bastian.
German Version = 1,8 sec
US Version = 3,4 sec

German Version / US Version

87:21 [94:17] The credits are presented in the particular language. Furthermore the German Version contains Klaus Doldinger's score, the US the song of LIMAHL (the same as at the beginning).
German Version = 146,2 sec
US Version = 159,5 sec