The film is already collecting early Oscars buzz, and had a successful debut at the Venice Film Festival earlier this month.
The pair star alongside Rachel Weisz, and all three have had whispers of potential awards nominations in 2019.
One of the most attention-grabbing scenes is an intimate sequence between Stone and Colman, which they joked about at the accompanying press conference.
“It was awfully fun having sex with Emma Stone,” Colman joked, according to Metro.
“It was really fun having sex with you too!” Stone replied. “We didn’t really!”
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Love-making sequences can be notoriously awkward, but the stars said they found it “comfortable” on set.
“We all really learned to be embarrassed in front of each other and rely on each other.
“I think by the time we were shooting we all felt very close and comfortable so when I had to you know have sex with Olivia, it was very comfortable.
“Because we were very good friends.”
The Favourite has already collected a 96% score on Rotten Tomatoes, with the consensus declaring: “The Favourite sees Yorgos Lanthimos balancing a period setting against rich, timely subtext – and getting roundly stellar performances from his well-chosen stars.”
Colman in particular has been singled out by many critics.
“All three members of the main trio are at their best, but it’s Colman who most deserves a coronation,” said IndieWire.
Entertainment Weekly said: “I suspect that some scholars on the Royals will take issue…
“But Colman’s performance is so volcanically great, they may shrug and find themselves giving in to the daffy, fiery vulnerability of her portrayal.”
The Favourite currently has 13/1 odds of winning Best Picture, according to SportsBet.
The movies seemingly standing in its way include A Star Is Born, First Man, Roma, BlackKKlansman and If Beale Street Could Talk.
The Favourite is out on January 1 in the UK.