It's only on VHS. And some are trying to make a fortune out of selling it. I checked it out on Amazon with prices ranging from $34.99 to over $1000 ( unless they're selling several copies in a box; I just don't get it.) But it's supposedly out of print so I suspect copies are being pushed. So sad because this was really a great movie. I remember Showtime airing it on cable when it was released; hauntingly beautiful.
There are three different DVD releases of this movie, the most recent came out in 2010. Sanrio tends to re-release it's films and most of it's shows on DVD every few years so another should come in the next couple of years, though the most recent one is still in stock on the Japanese Amazon page for about $15 so you could use a proxy service or check websites that sell DVDs from Japan.
Funny thing is that Rankin-Bass had Japan did a lot of animation and stop-motion work for them. Now a lot of anime fans have now debate if all of Rankin-Bass should be re-classified as anime because of not only Nutcracker Fantasy. But go read this: cartoonresearch.com/index.php/the-japanese-studios-of-rankinbass/ That's right a lot of Rankin-Bass cartoon has been done by several famous animation studios. Toei Animation (you know the studio behind Dragonball, Sailor Moon, One Piece) did Rankin Bass's King Kong cartoon, Mushi Production (the studio behind Astro Boy, Kimba the White Lion) was responsible for the 1969 Frosty the Snowman TV special, and Mad Mad Mad Monsters, and Top Craft (this studio would create Nausicaä and later become Studio Ghibli, yes the same Studio Ghibli with Hayao Miyazaki and created memorable anime films like Spirited Away, Princess Mononoke) was behind Thundercats, and you know The Last Unicorn? Yes, Topcraft did The Last Unicorn. So yes Rankin-Bass's The Last Unicorn would be considered a Studio Ghibli film today. Go read this: jpninfo.com/11647 animesuperhero.com/did-you-know-this-was-anime-the-last-unicorn/ www.utdallas.edu/research/spacesciences/hairston/luanimage.html So many of the Rankin-Bass cartoon you've watched as a kid, yep they would be considered anime today.