Faizon Love -- I Thought Katt Williams Was Going to Kill Me

Faizon Love says he feared for his life when Katt Williams pulled a gun on him this week, telling TMZ ... Katt's obsession with drugs and firearms could have cost him his life.

Love called into TMZ Live Friday to explain what went down Tuesday night -- when Katt pulled a gun on him at a parking lot outside Supperclub in Hollywood.

Love says ... when Katt pointed the weapon at him, he 100% feared getting shot, explaining ... "When someone pulls a gun and they on that narcotics ... you don't know what's gonna happen."

One of Love's homeboys managed to snatch the gun from Katt -- and discovered it was unloaded.

Katt was arrested that night for a possible gun violation, but was later released from custody -- and no charges have been filed.