Stars are gathering in London's Leicester Square for the UK premiere of How to Lose Friends and Alienate People.
The comic film has been adapted from British writer Toby Young's memoir, which documented his struggling attempt to fit in at a magazine in New York.
Speaking on the red carpet, 38-year-old Pegg said shooting the film had been a "thrill from start to finish".
The movie will be released in UK cinemas on 3 October.
The Hot Fuzz star revealed shooting in New York had been the highlight of making the film for him.
"Having my trailer on Times Square was amazing," he said.
"To be sat in this weird little air-conditioned environment and then open the door onto Times Square was sensational."
The actor also revealed how much he enjoyed playing the part, which was based on Young.
"It was great fun. It was all there on the page," he said.
"Peter Straughan, who did the adaptation, did a great job of creating this fictional version of Toby, who's called Sidney in the film.
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UK premiere for Pegg's new film
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