* Alec Ramsay: The protagonist of the story, Alec is a young boy who befriends the Black Stallion and travels with him to Arabia.
* The Black Stallion: A wild Arabian horse who becomes Alec's loyal companion.
* Henry Dailey: Alec's cousin and friend who accompanies him on his journey to Arabia.
* Prince Aziz: A young Arabian prince who helps Alec and the Black Stallion during their journey.
* Sheik Ibn el Mokhfi: A powerful Arabian chieftain who opposes Alec and the Black Stallion.
* Fatima: A young Arabian girl who helps Alec and the Black Stallion escape from Ibn el Mokhfi.