Spirit: A fiery Mustang stallion growing up in the American West. Spirit is very protective of his herd. His life was pretty carefree until something happened to change his outlook and make him a wiser leader, learning that not all things can be trusted and life can be hard.
Rain: Rain is a lovely paint mare that is fiercely loyal to her owner, Little Creek. Lively but calm and gentle mare who finds love for Spirit.
Bonita: "Rain's Grandma, a pure white mare from Mexico, where she was a riding horse for a girl named Maria. She was captured and used in the Mexican Army for battle and escaped, where she befriended a donkey named Paco. She came to be a wild horse and had Sierra, Rain's mother.
Raphael: Rain's Grandpa, Sierra's father. He was a wild stallion, a palomino with white blaze and stockings, who finds Bonita after she escapes from the Mexican army.
Esperanza: Spirit's mother, a Palomino, calm and tolerant of her rambunctious son.
Strider: Spirit's father, a pure black stallion that was the former leader of the Cimarron herd, Spirit succeeded him. He was later on captured and put in captivity and died from not being used to it. There is not much else known about him.
Sierra: Rain's mother, a brown and white paint mustang mare, former wild mustang but then tamed and lived in Little Creek's tribe.
Storm: Rain's father, black/white pinto mustang stallion, lived his whole life with the Indian tribe. Not much else is known about him.
Little Creek: A young Lakota native, he meets Spirit when captured by the US Calvary. He saves Spirit from being shot by the Colonel and together they escape, taking Spirit to his village in the hopes of one day riding him. He soon learns however that Spirit will never be forced and lets him go free.
The Colonel: Leader of the US Cavalry he decides Spirit is a challenge and a metaphor for the West, Break the Horse-Break the West. He runs into Spirit a few times and eventually concedes in defeat that at least one horse will remain wild and free.
The Eagle: Much overlooked but very important to the storyline, the Eagle, a Bald Eagle, represents Spirit's freedom. In the opening, it shows the beauty and splendor of the Old West. Flying over the running Spirit it shows how joyful he is in being free. When Spirit is captured, his sorrow reflects Spirit's own sadness and fear. And once Spirit returns to his herd the Eagle resumes his representation of the joy of freedom.