Ryan Reynolds & Blake Lively Premiere "Green Lantern" in L.A.

Taking over Grauman's Chinese Theatre, "The Green Lantern" held its Los Angeles premiere last night (June 15).

The film's stars Ryan Reynolds and Blake Lively were both out for the event and looked fabulous as they greeted fans and press.

The "Sisterhood of the Traveling Pants" actress had heads turning as she graced the red carpet in a white Chanel Couture gown complete with flower patterns and a sheer portion on the bottom.

Meanwhile her co-stars Peter Sarsgaard, Angela Bassett, Zachary Levi, Trevor Donovan and Jason Bateman were also on hand to celebrate the release of their new flick.

At one point, Reynolds attempted to explain what sets "Lantern" apart from other films that have come out of the booming superhero genre.

"A lot of the current iterations of superheroes are a little bit darker and more serious in tone. The thing I distilled from diving into that mythology and that universe is that there's a tone that's different."

Ryan continued, "He's not overly funny, but he's witty. I always say he's that guy who can throw a punch, tell a joke and kiss the girl. It was mostly just finding out who Hal Jordan was and also distilling what it is that the fanboys love about him and making sure that that can be found up on screen because if they love it there's a good chance that a broader audience will love it."

And during a recent interview, Miss Lively explained how her character in the film drew her to become interested in the project.

"Carol is very unique in this genre. She's an incredibly powerful woman -- she's a fighter pilot, she runs her father's aviation company. It's rare to see such strong women existing as equals amongst men in film, especially in this genre."

Though the first "Green Lantern" isn't even in theaters yet (it comes out tomorrow), the storyline for its sequel is already in the works.

Without "throwing that all out there," Reynolds dished a few details about what may happen with Jordan and Sinestro, as he told, "There's such a rich history with this character, so you get really excited about the possibility. The inevitable war between Hal and Sinestro is something that will have to be dealt with in the second movie for sure, but there's always subplots and a lot of other interesting things going on that are setting up a possible third film."

MTV recently sat down with the stars of the comic book-turned-movie to ask them just how much they known about "Green Lantern 2," and what the next chapter might have in store for their characters.

As for his co-star, Blake Lively, she would like to see an epic battle between her and Reynolds in an upcoming storyline.

"Green Lantern" hits theatres on Friday, June 17th.

Pictures from the Los Angeles premiere of "Green Lantern": PHOTO GALLERY

©2011, GossipCenter.com. All Rights Reserved