It has also been made into a musical stage show, which has been a huge success - and now, it's coming to the big screen...again!
Walt Disney Studios has confirmed that the film is having a live action remake, a bit like The Jungle Book and Beauty and the Beast have recently.
So what do we know about the new film?
Lovers of the original songs in the film, like I Just Can't Wait To Be King and Circle of Life, will be pleased to hear that the new film will include songs from the original film.
Donald Glover will play the lead role of Simba, while James Earl Jones - who played Simba's father Mufasa in the original animated film - will play the role again.
The Wrap has recently reported that comedian John Oliver will voice Mufasa's mouthy sidekick Zazu, although Disney has not confirmed this.
Similarly, there have been reports that Seth Rogen and Billy Eichner will voice loveable pals Pumbaa and Timon, but again, we don't know for sure.
There have been rumours that makers of the film want none other than singing superstar Beyonce to play the voice of Simba's best friend in the film Nala.
John Faveau, who directed the recent remake of The Jungle Book, will be directing this new film.
The studios said: "We can officially confirm that The Walt Disney Studios and director Jon Favreau are putting a new reimagining of The Lion King on the fast track to production."
Disney has said that it is currently planned for release in July 2019.
The Disney film The Lion King is one of the biggest animated films of all time.