I don't believe there is any scripture actually quoted in this particular song....but spiritual concepts are still there....as with many spiritual songs.
The imagery of both the Lion and Lamb which both represent Jesus is widely used in christianity. He starts out as the Lamb of God and in Revelation becomes known as the Lion of Judah.
John 1:29 (KJV)
The next day John seeth Jesus coming unto him, and saith, Behold the Lamb of God, which taketh away the sin of the world.
Revelation 5:4-5 (KJV)
And I wept much, because no man was found worthy to open and to read the book, neither to look thereon.
And one of the elders saith unto me, Weep not: behold, the Lion of the tribe of Judah, the Root of David, hath prevailed to open the book, and to loose the seven seals thereof.