The pair are set to release a new track called Hold Me Closer, they revealed on Monday.
Further details are currently limited but it was previously reported that the pair were working on a new version of Sir Elton’s 1971 hit Tiny Dancer.
The lyrics “hold me closer” feature in the classic song, and a post Elton shared on Instagram alongside a rose and rocket emoji seemingly confirmed the speculation.
A spokesperson said that a further announcement will be make later this week, according to the PA news agency.
Britney reportedly laid down her vocals at Elton’s Beverly Hills recording studio last month, Page Six reported.
According to the outlet, the new single will be produced by Andrew Wyatt, who’s worked with a string of legendary entertainers, including Lady Gaga, with whom he co-wrote the Oscar-winning Shallow, from A Star Is Born.
Elton has previously found success by retooling his hits with other pop stars, including Dua Lipa, who jumped on the Cold Heart remix, which mashed up songs Rocket Man and Sacrifice. The track eventually went on to land Elton his first UK No. 1 single in 16 years.
Fans have, of course, been eager for new music from Britney since the release of her ninth studio album, Glory, in 2016, which spawned several hit singles, including Make Me and Slumber Party.
Since the singer’s conservatorship – which put strict limits on her professional and personal freedoms, was terminated by a judge in November 2021 – rumours have swirled about a potential musical comeback.
The restrictive legal arrangement had controlled nearly every aspect of Britney’s life since 2008, including her ability to release new music.