We absolutely loved The NeverEnding Story, and this guy played the lead, Bastian Balthazar Bux, when he was just eleven years old. Barret Oliver wasn't a one hit wonder, but he also didn't really hit the bigtime either. After The NeverEnding Story, he appeared in Tim Burton's short film, Frankenweenie, as well as the 1985 film, D.A.R.Y.L. (for which he won a Saturn Award).
The last time Oliver appeared in a film was in 1989's Scenes from the Class Struggle in Beverly Hills. After that, he decided to abandon acting in favor of his other passion: photography. He has actually done pretty well for himself since then, with his work being regularly exhibited in galleries all over the world. He also released a book about Woodburytype, a printing process he specializes in. Sounds like he's doing great!