"A film like this, you feel a sense of responsibility to the original filmmakers, you feel a sense of responsibility to the fans who grew up with it, you feel a responsibility to new audiences who are seeing it, to the cast that trusts you," Favreau said Thursday.
"So this was a film where there was more pressure than I've ever felt before."
Favreau said the filmmakers behind the original 1994 Lion King attended the premiere and seemed to like his version, which was a relief.
Favreau's The Lion King, which features photo-realistic graphics, is set to arrive in theaters on July 19.
Favreau also discussed his upcoming Star Wars television series, The Mandalorian, which will stream on Disney+ in November.
"It's after Return of the Jedi, so the empire is gone and all hell is breaking loose in the outer rim," Favreau said about the show, which follows the adventures of a bounty hunter.
"Once you take out the rule of law, what happens? Chaos takes over," he said.