The singers reportedly feature on a track titled 'Lift Off', which is due to appear on Jay-Z and West's Watch The Throne record.
The joint album is expected to be released later this summer, but a confirmation of the date has yet to be announced.
Record producer Guru recently revealed that the album is nearly complete, stating that it just "needs little tweaks" before it can be pressed.
The hip-hop duo allegedly hired an entire floor of a hotel earlier in the year, in an attempt to get the album completed.
Meanwhile, reports suggest that Beyoncé has asked Jay-Z and Kanye West, as well as Coldplay's Chris Martin and his wife Gwyneth Paltrow, to appear on stage with her during her headline slot at this summer's Glastonbury festival.
Listen to Beyoncé's new single, 'Run The World (Girls)' below: