In response to what the other reviewer said, I'd like to point out that the earliest adaptation of the Odyssey I've seen was made two years before, in 1902's "Le Jugement de Paris" which only briefly recreates a short scene from the beginning of the book. This three-minute film is a single scene representation of the story of Ulysses. I don't know the story myself, so I'm guessing that this brief interpretation is only part of it.
The film begins with a realistic-looking (and quite beautiful) set of the entrance to a cave. Ulysses (played by Méliès, I think) enters the scene and falls asleep only to be discovered by some nymphs of the goddess Calypso who dance around him. Then, Calypso herself enters and lures Ulysses to the entrance of the cave, when she disappears. Ulysses then is stopped by a huge cyclops who 'threatens' to kill him so he has to fight the monster. The special effects here are extremely obvious that they just superimposed the actor's head onto the set (which could be understandable due to the limited technology at the time). However, what's worse is that while the cyclops does have a single eye, the other two actual eyes of the actor are just closed and it looks so obvious that it just looks like a huge guy's head with his eyes closed. I'm sure even at the time they could have found a way to create a more convincing effect. As it is, the sets and costumes look great and it's interesting to think why Méliès decided to adapt this particular story.