This film was originally in pre-production since 1992, with Danny DeVito and Meryl Streep set to play Boris and Natasha. However, legal problems with copyrights prevented the film being made until several years later along with trying to find the right story that would be faithful to the original cartoon. Eventually in 1995, producer, Jane Rosenthal felt the movie should be a live action/animated hybrid movie thanks to the success of Casper (1995).
For the narration, Keith Scott is doing an imitation of the voice of the late William Conrad, who had been the narrator for the original Rocky und Bullwinkle (1959).
Rene Russo met June Foray at the film's table reading. By her own account, Russo was very nervous about taking on the role of Natasha Fatale and requested Foray to demonstrate the voice. Foray graciously obliged.
Kenan Thompson and Kel Mitchell, a comedy duo of the mid 1990s, play Lewis and Martin, respectively. A nod to another comedy duo, Jerry Lewis and Dean Martin.
The students in the film were real students of Chapman University, which "played" Wossamata U.
John Goodman: As the Oklahoma cop is arresting Karen Sympathy, Rocky protests, "But she really is with the F.B.I.!" The cop responds, "Yeah, and I'm really John Goodman." Goodman and Piper Perabo appeared together the same year in Coyote Ugly (2000) where he played her father.