Vince Leo from Qwipster's Movie Reviews gave the film one and a half out of five stars. He was critical about the movie and failed to find any good aspect in its production. He stated: "Unless you are a young child who is obsessed with unicorns, there is just nothing here at all to recommend. The Little Unicorn is as derivative as they come, with an undercurrent of ugliness that seems out-of-place in what should be a heartwarming tale. It's dreadfully boring and noisy, and about the longest 80 minutes you could spend doing just about anything. Writer-director Paul Matthews followed this up with another similar film, The Last Leprechaun, with much of the same cast. I'll probably never review it, since I've already dubbed Unicorn with the alternate title, 'THE LAST PAUL MATTHEWS FILM I'LL EVER SEE.'"[2]
In 2017, RiffTrax released a downloadable version of The Little Unicorn with a comedic commentary track.[3]