There's no word on what song they'll be collaborating on, but it's sure to be an amazing performance!
A source said: “Elton and Lady Gaga on the same stage is sure to create fireworks, it could be one of the most memorable Grammy performances of all time.”
Other artists performing at the 52nd annual Grammy Awards include Pink, Beyonce Knowles, Blacked Eyed Peas and Taylor Swift.
Beyonce heads up the list of nominations after being put forward for 10 honors, while Taylor Swift has eight, followed by Black Eyed Peas on six.
Make sure to check out Hollyscoop on Grammy Sunday for live blogging!