The singer has been working on material for her first album after reportedly landing a £500,000 record deal with Universal Music Group subsidiary Xenomania back in February.
"Just listened to the 98% almost finished version of my song which Is potentially my first single! Oh my gawddddddd," Lily tweeted.
The star finished third on the 2011 series of The X Factor and was mentored by Destiny's Child member Kelly Rowland.
Lily and Rowland have since recorded a duet together, but it is uncertain if the song will be included on either of the artists' future releases.
Watch Amelia Lily and Kelly Rowland perform 'River Deep, Mountain High' during The X Factor live finale below: