The cover has been recorded and released by over 300 Irish musicians to raise money for Lily-Mae Morrison, a 4-year-old girl who suffers from neuroblastoma, a rare and aggressive childhood cancer of the nervous system.
Labrinth's 'Beneath Your Beautiful' moves down to two, while Rihanna's 'Diamonds' leaps from seven to three.
One Direction are at four with 'Little Things', Olly Murs is at five with 'Troublemaker' and Bruno Mars moves up to eight with 'Locked Out of Heaven'.
Alicia Keys jumps from 29 to 18 with 'Girl on Fire', the Pogues advance to 20 with festive classic 'Fairytale of New York' and Little Mix slide to 21 with 'DNA'.
Pink's 'Try' climbs seven places to 30, The Script trail at 31 with 'Six Degrees of Separation' and Naughty Boy and Emeli Sandé's recent collaboration 'Wonder' moves back up a few places to 37.
This week's Irish Top 10 is as follows:
1. (-) Various Artists: 'Tiny Dancer: A Song For Lily-Mae'
2. (1) Labrinth ft. Emeli Sandé: 'Beneath Your Beautiful'
3. (7) Rihanna: 'Diamonds'
4. (2) One Direction: 'Little Things'
5. (3) Olly Murs ft. Flo Rida: 'Troublemaker'
6. (5) Robbie Williams: 'Candy'
7. (9) The Lumineers: 'Ho Hey'
8. (12) Bruno Mars: 'Locked Out of Heaven'
9. (6) Psy: 'Gangnam Style'
10. (11) Ed Sheeran: 'Give Me Love'
Watch the music video for 'Tiny Dancer: A Song For Lily-Mae' below: