The singer and rapper will collaborate on a reworked version of 'Heart Skips A Beat', which is scheduled to be released in North America this summer.
Chiddy Bang replaces Brighton duo Rizzle Kicks, who appeared on the European release of 'Heart Skips A Beat', which reached number one in the UK, Germany and Switzerland.
Murs is currently working on his third studio album, which is expected to be released in late 2012.
The star's North American campaign will begin later this month when he joins One Direction as the special guest for their tour of the US and Canada.
> Olly Murs: 'I hope to convert One Direction fans on US tour'
Listen to Olly Murs's 'Heart Skips A Beat' featuring Chiddy Bang below: