You can just install the Neo4j Spatial plugin and run the cypher query for import:
CALL spatial.addLayer('layerTestName', 'osm', '')
CALL spatial.importOSMToLayer('layerTestName', '/path/to/file.osm')
Java example (from doc):
OSMImporter importer = new OSMImporter("/path/to/file.osm");
importer.setCharset(Charset.forName("UTF-8"));
BatchInserter batchInserter = getBatchInserter();
importer.importFile(batchInserter, "map.osm", false);
//batchInserter.shutdown();
//GraphDatabaseService db = new GraphDatabaseFactory().newEmbeddedDatabase(databasePath);
reActivateDatabase(false, false, false);
GraphDatabaseService db = graphDb();
importer.reIndex(db);
db.shutdown();