The track, which was penned by Kelly for the late singer's 2009 album of the same name, has been re-worked to combine both of their vocals.
The new version of the song trailers Houston's upcoming greatest hits titled I Will Always Love You - The Best of Whitney Houston, which is due for release on November 13.
Rap-Up reports that the retrospective will feature remastered versions of her biggest hits and include a previously unreleased song called 'Never Give Up', which was produced by Jermaine Dupri and Bryan-Michael Cox.
Kelly recently described Houston as being "like a sister" when working together on the soundtrack for her upcoming film Sparkle.
He said: "We challenged each other a lot in the studio, from the first moment we laid eyes on each other, but it was a lot of fun."
Listen to 'I Look To You' below:
The tracklisting for I Will Always Love You - The Best of Whitney Houston appears below:
1. You Give Good Love
2. Saving All My Love for You
3. How Will I Know? (Remastered)
4. Greatest Love of All
5. I Wanna Dance With Somebody (Remastered)
6. Didn't We Almost Have It All
7. So Emotional (Remastered)
8. Where Do Broken Hearts Go?
9. I'm Your Baby Tonight
10. All the Man That I Need
11. I Will Always Love You
12. I'm Every Woman
13. I Have Nothing (Remastered)
14. Exhale (Shoop Shoop)
15. I Believe in You and Me (Film Version)
16. My Love Is Your Love
17. I Look to You (with R. Kelly)
18. Never Give Up