No, sadly it never made it's way to an official DVD release. Not yet anyway. But it did have a VHS release back in the day.
Also, as I wrote about a few weeks ago (see below link), 'The Puppeteer's Of America' have a copy of this on DVD in their lending library. I have no idea if what they have is a high quality version, or not, but i would love to find out.
To borrow a DVD from them you have to be a member (costs a bit of money, can't remember how much), and pay a $20 lending fee (the fee is 3 DVDs).
I emailed them to ask if people in the UK could join (as I live in the UK), and they said that would be fine. But at the moment I haven't got the money. When I do have the money I plan on joining and borrowing The Frog Prince as well as two other rare Henson DVDs they have!
www.muppetcentral.com/forum/threads/anyone-on-here-a-member-of-puppeteer-of-america-if-so.50119/