Lerman and Watson previously starred together in The Perks of Being a Wallflower and have reunited in the biblical epic Noah.
In an interview with Visual Tales, Lerman said that he and Watson have a natural on-screen "chemistry".
"Emma is such a sweet, genuine person, and it was one of those situations where you get along instantly," he said. "That always makes the chemistry more natural."
Lerman also said that shooting Noah in Iceland was an unforgettable experience.
"Working in such a picturesque environment was really memorable," he explained. "It's a beautiful country and the people there are so nice. I had the time of my life. I hope to go back again sometime soon."
Russell Crowe, Ray Winstone and Jennifer Connelly round out the cast of director Darren Aronofsky's Noah.
The film is expected to open on March 28, 2014 in the US and the UK.
Watch a trailer for The Perks of Being a Wallflower below: