"First time when I saw them (SRK-Kajol) I was spellbound... I was starring at them. They are one of the most loved couples. People are going to watch them after so many years. It's just going to be amazing," the 28-year-old actor said at an event here.
Shah Rukh is teaming up with Kajol after their last outing "My Name is Khan" in 2010.
Reportedly, Sanjay Leela Bhansali's magnum opus "Bajirao Mastani" might clash with "Dilwale" at the box-office in December this year.
There were also rumours that Karan Johar's "Brothers" was first offered to him before the role went to his "Student of the Year" co-star Siddharth Malhotra, but Varun denied.
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The "Badlapur" star also clarified that he has not replaced Arjun Kapoor in "Revolution 2020".
"No, it is not true. I am doing 'Dilwale' and 'Dishoom'," he added.
Varun will also be working in Karan Johar's "Shuddhi" opposite Alia Bhatt.