The 69-year-old actor founded the festival nearly 25 years ago, but recently told "CBS Sunday Morning" he never envisioned the cinematic gathering would achieve the status it currently holds.
"I can't, honest to God," confessed Redford. "I'm not being falsely this or that, it's hard for me to -- I can't get a hold of that."
The "Butch Cassidy and the Sundance Kid" star also divulged that while the annual festival has garnered a great deal of his time, he enjoyed the endeavor and its corresponding Sundance Institute.
"I have not been able to do as many films as I'd like to make because of a commitment to Sundance that grew larger than I imagined and when you commit, you commit," said Redford.
"So it finally occurred to me when I started the institute and I watched how artists were here and I thought this is the perfect," he told the CBS series. "This is it. It's a place for artists and the environment."
Notable deaths of 2014 [PHOTOS]