Yash Chopra conceived the film with Vinod Khanna in mind. He promised Vinod that he would do the film. But when Yash Chopra thought about it, Vinod Khanna could no longer look like a 20 year old. He informed Vinod that he was not in the film. This upset Vinod. Jackie Shroff had just shaved off his mustache for Diljale and sent his pictures to Yash Chopra. Yash liked it but still didn't feel like Jackie looked young enough . Thats when Anil kept insisting he do the film. Yash Chopra did not like Anil Kapoor's mustache. Anil then got Injured and stayed home for a month. This is when Anil shaved off his mustache and won Yash Chopra's approval.
Sridevi lost her father but being a professional she continued with shooting next day, the scene being a comedy scene with Anupam Kher.
Pamela Chopra read the book Daddy Long Legs and was inspired by the story This is how Lamhe was born. Anokha Rishta (1986) was director I.V. Sasi's remake of his own Malayalam film "Kanamarayathu" (1984). P. Padmarajan's story for the Malayalam film was itself adapted from Jean Webster's novel "Daddy-Long-Legs" (1912).
Yash Chopra wanted to release the film on Diwali. When he heard Ramesh Sippy was releasing Akayla on that date, he decided to postpone his film. He did not want to compete with Sippy and Bachchan. Thinking Phool Aur Kaante was a small B grade film, Yash Chopra opened his film against Ajay Devgan's debut.