The musician posted the audio of a track called 'Cut Clouds' on YouTube yesterday (January 14).
"A new year, and a fans-only sneak preview of a new track from Karl - we hope you like it," the description read.
"Stay tuned for more exciting news to come. Happy New Year."
Credited to Hyde alone but posted on the band's YouTube channel, it is unclear if the track will end up as an Underworld release or Hyde solo song.
Speaking to Digital Spy in December 2010, Hyde admitted that he and Rick Smith had many fallings out over the years as people do but "just decided not to split up".
"A long time ago we said that even if we're not friends it shouldn't stop us making music," he said.
Copyright: PA Images Anthony Devlin/PA Wire"You don't have to be friends to make music. That's a great fallacy, that everybody has to be a buddy and get on and agree and like each other's taste in music and each other's girlfriends or whatever. It's rubbish.
"Making art - making music - is not necessarily about friendship. It's about what happens when you get off on the unlikely combinations of different people in your band. There's no reason for us to stop making music together as long as we're still excited about the outcome."
Underworld's last studio album was 2010's Barking.
The band were also the musical directors for the London 2012 Olympics Opening Ceremony, which was directed by their frequent collaborator Danny Boyle.
'Caliban's Dream' from the Isles of Wonder soundtrack reached number 12 in the UK singles charts.
Watch the Underworld 'Scribble' music video below: