The new Hasbro packaging did not include a comic book and the new molds eliminated finger joints, which were a mainstay during the Toy Biz era, but the company did continue with the theme of Build-A-Figure pieces. Beginning January 1, 2007, Hasbro became the new license holder to the rights to produce toys and games based upon the Marvel Universe. The first wave of Marvel Legends included the heroes of Iron Man, Captain America, and the Hulk, with the villain being Toad.

At its inception in 2002, the Marvel Legends line copied the clam-shell packaging and the included comic book that had shipped with the Spider-Man Classics line. The line initially began as a spin-off of the Spider-Man Classics line, which were also produced by Toy Biz. This line is in the 6-inch (150 mm) scale, with spin-off lines in the 4-inch (100 mm), 8-inch (200 mm), and 12-inch (300 mm) scale. Marvel Legends is an action figure line based on the characters of Marvel Comics, initially produced by Toy Biz, then by Hasbro.

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