The long-running ITV gameshow aired its first non-celebrity edition since 2010 yesterday (July 9), winning the 9pm timeslot with 3.91m viewers.
Speaking to Digital Spy on the famous Millionaire set, Tarrant stated his belief that the programme is at its best when changing people's lives.
"Obviously I get a buzz out of sitting opposite Paul McCartney or George Michael or Sir Alex Ferguson or whatever," he said.
"But I still say the best... of Millionaire and where we started is where £20,000 will change one little old lady's life. I still think there's more drama than when it's real money for a member of the public."
Tarrant added that the public should be "proud" of Millionaire, which has aired in more than 100 countries since debuting on British TV in 1998.
"I think in this country we're kind of proud of it," he suggested. "We're kind of protective to it. It's ours [and] it's one of the most successful shows of all time all around the world."
Who Wants To Be A Millionaire: The People Play continues tonight (July 10) and tomorrow at 9pm on ITV1.