Austin Butler Says He's 'Honored' to Be Playing Elvis as He Channels The King on the Red Carpet (Exclusive)

The young star opened up to ET about playing The King at the star-studded premiere of 'Once Upon a Time in Hollywood' on Monday.

Austin Butler is already exuding the iconic charisma of The King.

Just days after it was revealed that the 27-year-old actor had been cast to play Elvis Presley in an upcoming biopic from director Baz Luhrmann, Butler donned a black-on-black ensemble that gave everyone serious Elvis vibes.

The young star's lady love, Vanessa Hudgens, took to Instagram on Monday -- ahead of the pair's appearance at the red carpet premiere of Once Upon a Time In Hollywood -- to share a pic of herself and her handsome boyfriend all decked out for the star-studded affair.

"And we’re OFF!!!! To the @onceinhollywood premiere with my man of the hour @austinbutler," Hudgens captioned the pic. 

With his partially-unbuttoned black dress shirt, black suit jacket, crisp, pleated black trousers and retro-swoosh in his jet-black hair, the young star was the spitting image of the late pop-rock icon.

ET's Keltie Knight spoke with Butler at the premiere in Hollywood, and he opened up about how excited he is to play the music icon.

"I am just profoundly honored that Baz has invited me on this journey with him," Butler marveled. "It's an extraordinary privilege. And I just feel so blessed to be working with such singular directors like him and Quentin Tarantino."

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When news of Butler's casting broke, Luhrmann released a statement explaining how he decided on the former Nickelodeon star for the high-profile leading role.

"I knew I couldn't make this film if the casting wasn't absolutely right, and we searched thoroughly for an actor with the ability to evoke the singular natural movement and vocal qualities of this peerless star, but also the inner vulnerability of the artist," Luhrmann said in a statement. "Throughout the casting process, it was an honor for me to encounter such a vast array of talent."

"I had heard about Austin Butler from his stand-out role opposite Denzel Washington in The Iceman Cometh on Broadway, and through a journey of extensive screen testing and music and performance workshops, I knew unequivocally that I had found someone who could embody the spirit of one of the world’s most iconic musical figures," the statement added.

For those who want to see Butler on the big screen before the Presley biopic drops, you can catch him star alongside Brad Pitt and Leonardo DiCaprio in Once Upon a Time in Hollywood, which hits theaters July 26.

ET exclusively spoke with Butler about the film last month, where he revealed the acting advice he received from Pitt.

"It was truly a dream come true," he said of working with the actor. "One thing Brad said was 'to play the long game.' I love that, just the idea of really choosing quality over quantity." Check out the video below to hear more.