O'Donnell had earlier said that Lohan, who will revive the late actress in the TV movie "Liz and Dick", is not in the right frame of mind to work, reported Contactmusic.
However, Lohan, 25, feels the chat show host does not know her well enough to make such a statement.
"It's funny that someone you don't know at all can say something so intrusive and so knowing. You know, I did one of my first interviews with her when I was little. I was so excited," she said.
The "Freaky Friday" actress was officially signed on to play the role of the Hollywood legend and said she would prove her critics wrong and fully commit to the project.
"I know that I'm great. I know Liz Taylor really well. I'm really lucky to be able to do this role and I just want to honour her the way that she should be honoured, because she's helped a lot of people in her life. I'm going to do the best that I can do with the role and I'm very excited to do it," said Lohan. PTI CORR NDS