The Wild Child actor stars as the titular character in forthcoming blockbuster I Am Number Four, which is directed by Caruso and produced by the Jurassic Park and Transformers masterminds.
Speaking to Collider, Pettyfer confessed to being made breathless by the movie industry greats and expressed hope that audiences would share his enthusiasm for the finished product.
He said: "You know it's funny, you're a kid and you idolise these people like D.J., Steven Spielberg, Michael Bay, and you think of it as a lifelong dream and when it finally happens it kind of takes your breath away.
"But at the same time you're making a movie that you're so proud of. At the end of the day you're collaborating together to make a movie that everyone goes and sees and enjoys. And that's the final picket of it all, you know, you work with your icons because these guys know what they're doing and they make the best movies that you've enjoyed in the past."
The 20-year-old also revealed that he chooses his roles based on the strength of the film's storyline, not the budget.
"I like movies that interest me and stories that interest me, I don't think about how much money it's gonna cost to make the movie, I don't think about any of that.
"I think about certain aspects like who's making the movie and who's gonna tell a story that I wanna be involved in. What I really love is finding a script and fantasising and going to a different world and kind of portraying a character that is interesting."
I Am Number Four, which further stars Dianna Agron and Timothy Olyphant, is released in cinemas on February 18, 2011.