Elton John and Dolly Parton will be teaming up for a duet

Music legends Elton John and Dolly Parton have teamed up for the very first time to release an upcoming song together.

Sir Elton John announced the collaboration at his Oscars viewing party last week, where he raised over £7.5million for his charity - the Elton John Aids Foundation.

'Elton is a massive fan of Dolly,' a source told The Sun. 'She is a gay icon, after all.'

Reportedly, after hearing that Dolly wanted to work with him, he immediately jumped at the opportunity.

In December, Dolly announced she was working on a cover of Don’t Let The Sun Go Down On Me, for her upcoming album and had reached out to him for a duet.

At an appearance on BBC's The Zoe Ball Breakfast Show she said, 'I've sent out a message asking if he would sing with me on it and possibly play the piano.' 

She also encouraged people from Elton's inner circle to pass along a message: 'So if y'all get to see him, say Dolly wants you to sing on her record!'

The pair are believed to have teamed up on a version of Sir Elton’s hit Don’t Let The Sun Go Down On Me, which keeps with the recent tradition of Elton re-releasing new versions of old tracks with major stars.

Last year he teamed up with Britney Spears for their hit song 'Hold Me Closer'. He and Dua Lipa also scored a hit with 'Cold, Cold Heart,' a mashup of his hits 'Rocket Man' and 'Sacrifice.'