Liam Neeson was paid for a bit part that was never shot.

The scene where Dracula lifts Phoebe up and she screams was done in one take. Duncan Regehr wouldn't wear his red contacts or fangs around the five year old Ashley Bank because it scared her too much. For the scene, director Fred Dekker just told Ashley to scream once the platform raised her. When she asked, "When?", Dekker told her, "Oh, you'll know," and proceeded to shoot. The terrified scream you hear when Dracula opens his eyes is Ashley's genuine scream of fright.

According to Director Fred Dekker, Shane Black's first draft of the screenplay was so huge that the opening of the film featured Van Helsing accompanied by zeppelins and hundreds of men on horseback storming Dracula's castle. Dekker stated that this sequence would have cost more than the final budget of the film.

About a year after The Monster Squad was finished, Shane Black and Fred Dekker worked together again writing Shadow Company. The script was to be an action horror film about a group of US special forces soldiers who died during the Vietnam war and years later, the soldiers, who were members of secret army experiments, rise up from the graves as rotting, unstoppable zombies. The zombie soldiers would have raided the armory from a nearby army base and then proceeded to destroy the town in which they were buried, killing everyone in it. The movie was going to be directed by John Carpenter sometime in 1989, produced by Walter Hill and with Kurt Russell in the main role, but it was never made. The original script by Black and Dekker did gain a cult following by theirs and Carpenter's fans.

Near the start of the movie the plane where Dracula first appears has "Browning" written on the side this a nod to director Tod Browning who directed "Dracula" in 1931.

The Wolfman's face was modeled after that of Stan Winston.

According to the director Fred Dekker the film was cut by 13 minutes because some executives didn't want it to run more than 90 minutes.

Actor Brent Chalem, who portrayed Horace ("Fat Kid"), tragically died of pneumonia in 1997.

In 2006, "Wizard" magazine made a list of the 100 Greatest Villains of All Time, Dracula was ranked as #30 on the list. But, surprisingly, it was for Duncan Regehr's performance in this film. His performance was chosen over all other versions of the character. Regehr's Dracula is still considered to be one of the absolute best interpretations of the character.

Andre Gower and Robby Kiger were friends in real life before filming. Gower campaigned to the producers to hire Kiger in the best friend role of Patrick.

Ashley Bank turned down a role in Fatal Attraction (1987) to play Phoebe.

There are at least two versions of Michael Sembello's end-credit song. In some versions, dating back to VHS release days, there is a lyric referring to "..the gillman swimmin' in the pool". As of 2007, in the recent HD cable release, this is replaced simply by "..the Creature From The Black Lagoon".

The armadillos glimpsed in Dracula's castle at the very beginning are a reference to Dracula (1931), where they were shown crawling about while Bela Lugosi gave Dwight Frye a tour of his castle. Armadillos are indigenous to the Americas and while their appearance in a Transylvanian castle was seen as a goof in earlier film, they are obviously meant as an homage here.

Dustin Diamond had a small role as a kid who tries to trade baseball cards with the boys, but this was later cut.

Mary Ellen Trainor who plays the mother of the lead siblings also plays a mother of lead sibling children in "The Goonies"(1985)

This movie came out 6 months before another movie written by Shane Black: "Lethal Weapon".

The noise the rats supposedly make during the opening scene is actually from guinea pigs. The rats seen in this same opening shot are actually armadillos.

Has the same "Dead guys do not get up and walk away by themselves" line followed by a shot of a dead guy walking down a street as Night of the Creeps (1986) also written and directed by Fred Dekker.

The brief scene where Frankenstein meets Phoebe playing by the water is a clear homage to a similar (yet more tragic) scene in the original Frankenstein film. The way in which the scene plays out in this film is, according to previous interviews, more in line with the way Boris Karloff wanted to do the scene in the 1931 original.

There is a poster for the Lucio Fulci film Zombie (1979) visible in the background of the club house.

During the montage with the Monster Squad getting ready to stop Dracula, Sean points at where Shadowbrook Road is on the map to show his friend Patrick where the mansion Dracula is hiding out in is. On the other side of the map, it says Chaney College as a location. This is an homage to actor Lon Chaney Jr., who played Lawrence "Larry" Talbot in Universal's "The Wolf Man".

The picture that Frankenstein's monster takes of Patrick's sister undressing in front of the window is actually of a blonde girl in a black shirt.

There is a poster for the Return of the Living Dead (1985) visible on the wall of the club house.

Despite multiple references from characters about the 40s, the original Universal monster films all came out in the 1930s. Browning's Dracula was early 1931, Whale's Frankenstein was late 1931, Freund's Mummy was 1932, and Walker's original werewolf film (Werewolf of London) was 1935. Admittedly though, the 1941 The Wolf Man with Lon Chaney Jr is the more popular version. Arnold's Creature from the Black Lagoon was much later, released in 1954. Truly, the only real 1940s monster referenced in the film is done so in passing: the teacher "Cat Head" is a clear reference to the 1942 Cat People.

The film is said to be blatant rip-off of the more well known kid horror-adventure film, The Goonies (1985). Eventually, the film gained cult status and popularity.

Horace's comic book that E.J. tears in half is "Wonder Woman" #3 (Dated April 1987) titled, "Deadly Arrival!", plotted and penciled by George Pérez with scripting by Len Wein. The comic follows the Crisis on Infinite Earths reboot of the DC Universe in which DC began renumbering their comics from number "1" so as to reintroduce new readers to their characters through updated origin stories. Collectors refer to the comic as Wonder Woman Vol. 2, #3, even though the issue's credits and copyright page make no reference to a volume number.

The movie is a not based on or is a remake of Monster Squad (1976). The short lived TV show was about wax figures of three monsters that comes to life to battle evil.

The Creature from the Black Lagoon is never mentioned by name by the characters. Even the credits refer to it as "Gillman."