Although I didn't restrict myself to fantasy filsm, I did restrict the list to films no one else as listed (unless I missed one), all of which gave me ideas for fantasy games.
Chronicles of Narnai: The Lion, the Witch and the Wardrobe (great fantasy fighting sequence)
Heavy Metal (Den, especially)
Big Trouble in Little China (A classic raid-the-evil-fortress story)
The Golden Child (Prophesy and foreordained savior done pretty well)
The Wizard of Oz (Band of questing adventures of different species, a tin golem, evil spellcaster, and hobgoblins)
Mortal Kombat (Only the first one, but a great source of fun ideas and visuals)
First Knight (Not my favorite, but with a few interesting ideas and visuals)
Fist of the North Star (animated only, please)
The Bride with White Hair (Swordfighting, evil cults, and romance!)
The Storm Riders (anything with characters named Lord Conquer, Striding Cloud, Whispering Wind and Sword Saint has got to be good for inspiration)
Aladdin (Disney, but with a great idea for an ending)
Nightbreed (For the monster's point of view)
Howl's Moving Castle (Teleportation and polymorph as plot elements)
The Blood of Heroes (My favorite post-apocalypse sports movie, good for gladiator plot ideas)
Crouching Tiger, Hidden Dragon
Kull the Conquerer (For the axe-fighting, if nothing else)
Flesh and Blood (An interesting take on mercenaries and seiges)
Harry Potter (Mage school, and some interesting foes – especially dragons)