The Netflix original drama, directed by Indian-origin filmmaker Ritesh Batra, brings the "Barefoot in the Park" co- stars together after a gap of 37 years.
Addressing reporters at the world premiere of the movie at Venice film festival, 81-year-old Redford said stories these days focused more on a younger audience. "Our Souls at Night" was a "story that will satisfy the older audience".
"Our Souls at Night" is a romance drama about two longtime neighbours who find love at a later stage in their lives.
Fonda, 79, who appears opposite Redford for the fourth time on the silver screen, praised the actor for his contribution to American cinema through Sundance Institute.
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"I wanted to be able to spend time with him... Plus I wanted to be able to fall in love with him again. I always was in love with him... In all the movies I made with him," she said.
The duo have also worked in "Tall Story" (1960), "The Chase" (1966) and "The Electric Horseman" (1979).
Batra, known for his critically-acclaimed debut "The Lunchbox", said, "I did it for the honour of working with Robert and Jane. I'm also a big fan of the writer Kent Haruf (writer of the book on which the film is based)."
The film will be available on Netflix from September 29.
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