The actor took on the role of the "Tiny Dancer" hitmaker in this year's box office hit, and reunited with Elton for a special orchestral screening of the film with the Hollywood Symphony Orchestra at the Greek Theatre in Los Angeles on Thursday, October 17.
Speaking to Entertainment Tonight at the event, the star couldn't help but gush over the music icon, but admitted he had to play it cool as he got to know the music legend.
"It's been a very surreal process getting to know him," Taron said, adding that he admires Elton's "capacity for love and warmth and his kindness, and his unended interest in me as an artist, not just in this project and how normal he's become to me."
However, he suggested the "Candle in the Wind" star is uneasy with his celebrated status, and urged the actor to treat him like he would any of his other friends.
"He doesn't want me to be constantly looking at him like he's God," the actor continued. "He wants me to look at him like he's my friend, which he is."
During the event, the pair took the stage to perform "(I'm Gonna) Love Me Again", which experts believe will be a contender for the Best Song award at the 2020 Oscars.
They ended the gig with a rendition of Elton's classic hit "Don't Let the Sun Go Down on Me", after the actor told the crowd they had "never performed" the song together before and he "really wanted to."