The 'Community' star opened up to ET at The Event, hosted By The Shaquille O'Neal Foundation, on Saturday.
McHale hosted the charity gala The Event, presented by the by the Shaquille O'Neal Foundation, at MGM Grand Garden Arena on Saturday, and he spoke with ET about the long-awaited film, based on the cult hit sitcom, which was announced on Friday.
"We've already shot it! We shot all three parts -- it's like The Hobbit," McHale joked. "Really, it is a dream come true."
"We can't believe a show that was canceled twice is now [getting a movie]," McHale marveled. "The 'Six Seasons and a Movie' hashtag actually freaking happened!
McHale said he's "never gotten a response like that on social media" like the one he got when announcing the Community movie, "And I try very hard! I'm desperate for people to follow me."
Community premiered in September 2009, under creator and showrunner Dan Harmon. After three critically praised seasons that struggled in the ratings, Harmon was fired for season 4, only to be brought back for the show's fifth season.
Community got cancelled after season five, but was picked up for a sixth and final season by the now-defunct Yahoo! Screen. The show came to an end in June 2015.
"If you had said in 2009, after a show that was canceled twice, that there would be a movie, I would say that you're high," McHale said with a laugh. "[But] we're doing it! Thank you, Peacock, for funding it. I hope you're ready for what's gonna happen. We're very excited, Dan's excited, and yeah, I really can't believe it"
As for McHale's involvement with the Shaquille O'Neal Foundation's star-studded gala over the weekend, McHale explained, "I really do love doing charity events because not only does it, you know, get you a couple points in heaven, the last two I did in Las Vegas were for children, and so that makes me feel slightly better about myself!"
"And, you know, if Shaq comes a calling, I'm not gonna not do that," he added. "So it makes me very happy to be able to do it."