One of the best things about the early Marvel Comics was that they had all these cool crossover and team ups. Since most of their heroes were based in NYC it made sense. It also helped that Stan Lee was writing most of the stories at that time and could keep it together. of course that eventually turns into a big mess when your characters don't age at all, or change, but early on it worked just fine.
This is sort of the second time Hercules met Thor. I had the comic book version, which is of course far more indepth that this little cartoon version, but they took the good parts, anyway. It's really cool to see Jack Kirby artwork like this. This is part one, btw.