The former Newspaper editor was revealed as King's replacement in September. At the launch of his new show Piers Morgan Tonight in London last night, he admitted that he was following an "absolute institution".
"It's like following Sinatra at Vegas," he told BBC News. "No-one remembers that guy's name."
He continued: "I was talking to Bruce [Forsyth] and he said 'I've been trying to crack America for 63 years' and he said 'No offence Piers - you don't sing, you don't dance, you're fairly irritating. How have you managed to do this?'"
Describing it as his "dream job", Morgan revealed that he is hoping to secure President Barack Obama as his first guest on the show, which starts next month.
> Morgan calls on Fry for Twitter help