Here's a top 10 list of licensed games that I personally consider decent. Feel free to comment and add your own.
01. The Lion King (Genesis/SNES)
The Lion King is one of the proofs that good, even great movie licensed games exist. The animation is stellar in this game and it looks excellent for a 16bit title, even today and the controls feel tight and precise as well. The music is great renditions of the classic soundtrack and there's a lot of great level design in the game, inspired by the movie. If you like Disney's The Lion King as much as I do, give this game a try. You won't regret it. It might be a bit difficult at first (especially the monkeys stage), but once you play it a few times, you get through it.
02. Back to the Future: The Game (PC)
03. Teenage Mutant Ninja Turtles IV: Turtles In Time (SNES)
04. Aladdin (Genesis)
05. Duck Tales (NES)
06. X-Men (Genesis)
07. Blade Runner (PC)
08. Terminator 2: The Arcade Game (Arcade/SNES/Genesis)
09. Super Star Wars (SNES)
10. 007 GoldenEye (N64)