Rice was hired by Disney to write the lyrics for a film being produced under the working title of "King of the Jungle". For the music, Rice suggested pop recording artist Elton John. In 1991, Rice was asked to help finish the songs for Aladdin following the death of Alan Menkin's lyricist, Howard Ashman. Three songs with lyrics by Rice were used in the 1992 film, including edits with Arabian Nights and writing the songs One Jump Ahead and "A Whole New World", which was a substantial radio hit and won an Academy Award for Best Song.
In 1994, the Rice/John project, now retitled The Lion King was released to massive box office and critical acclaim. The soundtrack, featured the hit Rice/John songs "Can You Feel the Love Tonight?" and "Circle of Life" and became the best-selling album in the US in 1994. "Can You Feel the Love Tonight?" also went on to win Rice his second Academy Award for Best Song.
Also in that year, Rice re-teamed with Menken to write additional songs for the Broadway production of Beauty and the Beast, which was nominated for several Tonys. Rice followed this success with two musical productions for Disney, both of which debuted in 1997. First, Rice, John and others expanded The Lion King for the stage, which was also nominated for multiple awards. Next, Rice and Menken wrote an oratorio (fully sung production) of King David, which was never fully produced.
Tim Rice's last production for Disney saw him re-team with Elton John for a brand new version of Aida, which debuted in 2000 and ran until 2004. The musical won several Tonys, including Best Original Musical Score for Rice and John.
Rice was named a Disney Legend in 2002.