It was a feature, not an episode. Rented it repeatedly on VHS from a place near my house. This was around 1986.
It was a live action hero-vs-baddies, and looking back, it was pretty Power Ranger-y in costuming. There may actually have been more than the one main hero - like a team - but I'm not sure. (I feel like I remember a scene where the guys "suited up" and maybe there were 3 of them? Might've only been the one. Also seem to recal the suit the hero(s) wore were mainly white and silver.) Full head mask when suited up, too.
Also, there might have been something going on with a volcano?
Just a silly movie, but I wonder if anyone remembers it. I'd watch it again, if I knew the first place to look for it.
Update: It's not Ghostbusters.