The first trailer for the film, released back in November 2018, already had lots of us practically counting the days until the July release date.
But will you be even more excited after seeing the latest trailer?
The previous sneak peak let us see baboon Rafiki christening baby Simba and presenting him to all the other animals, as well as showing of all the beautiful landscapes of the African savannah.
This new trailer, though, gives us much greater idea of what many of the characters in the finished film will look like.
Here's five things we've learnt from watching it...
1. What Mufasa will look like
Although we knew he'd be voiced by James Earl Jones, the same actor as in the original films, we still didn't how Simba's dad would appear. The new film uses photo-realistic CGI to create super realistic-looking animals.
Based on the trailer though, Mufasa certainly looks the part of a majestic leader trying to protect the pride, and teach his young son the ways of the world.
2. How scary Scar will be
In the original animated version of the Lion King, Scar was orange and black, in contrast to the golden yellow and rich brown of king of the pride Mufasa.
This time around, although Scar has the same colouring as the other lions, he looks a lot skinnier and much more straggly than anyone else.
He's also got a rather menacing voice, bears the signature 'scar' above his eye showing his aggressive nature, and shows his evil intentions by lurking in the shadows with the hyenas.
3. We get our first look at Timon and Pumbaa
Everyone's favourite comedy duo are back, singing their way through life in the jungle.
In the trailer we see them walking through the vines with baby Simba, as he changes into adult Simba.
They haven't cracked any jokes yet, so we'll just have to wait and see if they'll be as funny as they are in the original film.
But if you wait until after the title, you'll get to hear Timon and Pumbaa singing 'The Lion Sleeps Tonight'.
4. See how Nala - aka Beyoncé - will appear
Yes - this is the body you'll be hearing Beyoncé's voice coming from, although we don't actually hear her, or Simba actor Donald Glover, speak in this trailer.
Nala and Simba are friends as children, but as they grow older, romance starts to blossom.
But while Queen Bey is used to owning the stage, she'll have to take more of a supporting role here as she backs Simba to become king of the pride.
5. The actual date it's coming to cinemas
We already knew from previous trailers and interviews that the film was due to come out in July, but now we know the date will be *drumroll*... 19 July.
Most of you will be on your school holidays so you should have plenty of time to sit back with the popcorn, and imagine you're on an amazing adventure in the African savannah.
If you want to know any more about the new film, here's even more details on what you can expect.