If you're talking about the 1953 Disney animated version, then the differences between the two works are largely minimal as far as faithfulness to the letter of the text goes. For example, in the book, Wendy insists on Peter taking "his medicine." Hook, learning of this, poisons the "medicine" to kill Peter. In the film, this is changed to Hook sending Peter a bomb in a gift-wrapped box, which is made to look like it's a present from Wendy. In both cases, Tinkerbell risks her life to save Peter. The fate of Captain Hook in the Disney movie is another big change from the book. In the book, the crocodile eats Hook. In the movie, Hook is chased by the crocodile and essentially forced away from Neverland, but he is not killed.
However, the themes of the need to grow up and the emotional anguish of the Darling parents when...
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they realize their children are gone are eliminated from the Disney version. The film is largely a fun fantasy-adventure which foregoes any deeper discussion of the end of childhood or the sinister side of Peter Pan's character.Peter Pan is made a little more likable in the movie. In the movie, Peter, while still selfish and fun-seeking to a fault, showcases heroic attributes such as ultimate loyalty to his friends, whereas in the book he can be downright brutal with them. The novel's Peter is far more thoughtless, and he is much more fixated on the idea that Wendy be a mother figure to him and not a romantic partner. The Disney version plays up the idea of them as a couple without ever making it official.
Since you do not specify which movie you mean, I will assume you mean the most recent one (2003) by P.J.Hogan.
Peter Pan was originally a theatre play which opened in London in 1904. In 1911, the play was turned into a novel called, "Peter Pan and Wendy".
Aside from the differences in narrative form between a play and novel, the book contained an additional part where Peter Pan comes back to the Darling's house 20 years later only to find that Wendy has grown up and has a daughter. Peter then befriends the daughter Jane, and Jane promises to go to Neverland with Peter and be his 'mother' therefore replacing Wendy. This is one significant difference.
The 2003 film version was panned by audiences and critics for its 'action' type style and one notable difference was that the film chose to play up a romantic side to Peter and Wendy's relationship which in the book is described in vague terms. The film was criticized for being too explicit about their relationship and many people were angry at the suggestion that there was anything romantic about the relationship. After all Peter in his innocence wants Wendy to be his mother at times in the book.
Wikipedia has a lengthy article describing all the film versions of the play and the novel.