It's been said a lot that Mario is more recognizable than Mickey(Mouse).  Certainly in the gaming world, but I don't quite believe that's true throughout the whole of characters.  Mario certainly is famous, but does he really trump the first successful mascot?  I'm sure Mario isn't that big in parts of Asia where games are pirated like crazy. 

I think Mickey Mouse is more recognizable than Mario.

I believe there was some research done that found Mario to be more recognizable than Mickey, but I'm not sure if that was just in the US or worldwide.

Well I mean who doesn't know Mario or Micky. That's a tough one. But Micky appears in less things and on less things so. Idk.

Well, my only argument is two small rings and one big ring below those two rings.  Just show that to anyone, including people from Korea or China and they know who it is just by those shapes.  Mario in his figure in shaded figure is less likely spotted.  In my experience at least.

Everyone knows Mickey Mouse. Everyone! Can't say the same for Mario. Especially older generations.

I'd say Mario. Mickey isn't really as known today as he use to.

Can't beat that recognizability.

Anyone with kids can't get "M-I-C-K-E-Y M-O-U-S-E It's the Mickey Mouse Clubhouse Come inside, it's fun inside" out of their head.

Plus many of their (and my) favorite cartoons start with the classic Steamboat Willie animation.

I'd say that both are recognisable enough that their popularity is not a limiting factor to the amount of revenue they can generate.

I would imagine though that most old people would recognise both but only be really familiar with Mickey Mouse.

I think both are at the top of the pyramid