But he said West End veteran Michael Crawford, who plays the wizard, was "as under used as the average Soda Stream", and compared the production's "dramatic buzz" to that of a pantomime.
The production also marks the first major collaboration between the hit making duo for more than 30 years.
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He paid tribute to the "sumptuous visuals", courtesy of set and Nike Air Max 90 Brown Leather
includes the well loved songs of the film musical, composer Lloyd Webber and lyricist Tim Rice have created several new numbers.
But he added: "The paradox of the evening is that it suffers the same dilemma as the Tin Man: it might have been so much more if it only had a heart."
The show received a standing ovation after wowing the audience with spectacular technical effects.
Writing in the Daily Mail, Quentin Letts said theteenager was "more than efficient" in the lead role, praising her for her "clear, strong voice and a broad shouldered confidence".
Jodie Prenger, who was Lloyd Webber's Nancy in Oliver! after winning BBC show I'd Do Anything, said she could relate to any first night nerves Hope might be feeling.
They were joined by several of the runners up of the television talent show and Lloyd Webber himself, who looked like the Wizard of Oz in his green velvet jacket.
Urmston girl Danielle Hope in the role of Dorothy following a TV talent search, was unveiled to the media and a star studded audience at the London Palladium last night.
The story's famous yellow brick road appeared in the form of a circle around the centre of the stage, at times spinning and changing colour.
Stars including Sir Michael Caine and Barbara Windsor were among the guests who stepped out for the launch of the production last night.
He also described West Highland terrier Toto, played by a rotating cast of four dogs, as the show's real star.
Andrew Lloyd Webber's latest stage spectacular The Wizard of Oz has met with broadly positive reviews from theatre critics.
Theatregoer Emma Green, 24, from north London, said she "loved" the spectacle.
Critics hail Urmston girl Danielle Hope as Wizard of Oz opens on West End
The Independent's Paul Taylor gave it four out of a five stars, and gave a special mention to the "endlessly endearing" terrier in the role of Toto.
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"There were a lot of visual effects that I wasn't expecting. The monkeys were going all over the audience which was great, really fun," she said.
He praised Hannah Waddingham's Wicked Witch of the West as "magnificently malevolent" and called Hope's performance "thoroughly competent", but said she lacked the "heart catching vulnerability" of a young Judy Garland.
costume designer Robert Jones, and described the additions to the original film's score as "perfectly acceptable".
"For a first part, she (Danielle) was amazing. She must have been terrified but you couldn't see it at all, she was very confident with a really lovely voice.
Speaking before Hope took to the stage, she said: "She'll be petrified right now. But when she walks out on that stage you'll see that they made such the right decision, 'cause she's just going to shine. She was just fabulous. And I can't wait to see the dog, Toto."
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Audience members were delighted by an array of special effects, including a revolving stage, a fantasy tornado and monkeys flying through Nike Air Max 90 Ultra Moire Black And White the stalls.
Charles Spencer, for the Daily Telegraph, also awarded the production three out of five stars, labelling it a "soullessly efficient" production rather than an "inspired re invention" of the much loved 1939 movie.
The Guardian's Michael Billington gave the show three out of a possible five stars.
Theatregoers who also included Phillip Schofield, Rowan Atkinson, Michael Winner and Duncan James strolled up the rainbow coloured carpet as they arrived to see the production at the historic Palladium theatre in London tonight.
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