I doubt the lions in
The Lion King universe practice a single religion, but I can tell you that the story itself and the basis of the "Circle of Life" is inspired by several religions.
As an add-on to Woeler's list of the film's Biblical references:
- Woeler mentioned the film's allusion to the story of Moses, but I would add on that both Moses and Simba fall in love during their self-exile. Also, producer Don Hahn mentioned on "the Story Origins" bonus featurette on the 2003 Platinum Edition that it was inspiring to the writers that Moses gains wisdom from God through the Burning Bush, which inspired Simba gaining wisdom from his father's ghostly visitation. Finally, both Moses and Simba return to their homeland to defeat the evil Pharoah/Scar, and free their oppressed people.
- Also, Hahn mentioned the writers received inspiration from the Joseph stories, as Joseph is unrecognized by his brothers after not seeing them in several years, which is identical to Sarabi unrecognizing her grown-up son at first.
- Mufasa gives his life to save Simba is similiar to Jesus giving his life to redeem mankind.
- Rafiki tells Simba that "he [Mufasa] lives in you," which is an allusion to Jesus living in the heart of his believers.
More Biblical allusions can also be found on this article,
The Spirit Behind The Lion KingTLK also contained spirituality as the dead Mufasa communicates with his living son for a short precedented amount of time. Also, the soul of Mufasa continues to live on even at the end of
Simba's Pride despite that he is physically dead. A loose spin-off of spiritualism is spiritism, which is the belief of the survival of a soul after death. In the film, Mufasa says, "And remember those Kings will always be there to guide you, and so will I." So, Mufasa knows that he will live on as a spirit with the Great Kings of the Past after he physically dies.
Finally, the "Circle of Life" leans more toward pagan religions such as nature worship. In the film, Mufasa says, "Everything you see exists together in a delicate balance. As king, you will need to understand that balance and respect all creatures from the crawling ant to the leaping antelope" and "When we die, our bodies become the grass, and the antelopes eat the grass so we are connected in the great Circle of Life." So, in other words, respect every animal (and even the dirt) in the Pride Lands because all of us create unity of nature with each other.
Not to mention, Rafiki is portrayed as a wacky, but intellectual shaman, so he would practice shamanism.