John began the song at his piano, which had a single white rose sitting upon it as a nod to the #MeToo movement.
He sang the first verse of the song before introducing Cyrus, who arrived on stage in a flowing red ball gown to join the icon.
The 25-year-old then took the lead on vocals as John accompanied her on the piano before the two joined together to finish the song in perfect harmony.
The moment marked Cyrus' second time performing at the Grammys — she previously joined Taylor Swift to duet on Swift's "Fifteen" — while John has graced the stage numerous times over his storied career.
Cyrus later took to Twitter to thank John for the performance and pay tribute to his legacy.
"Sir Elton John, I can't thank you enough for giving me the honor of performing with you tonight at The Grammys!" she wrote. "I've loved every moment I've spent with you over the years & will cherish each second of your kindness.let's kick ass and keep fighting for an end to the AIDS epidemic!"
"Everything you do inspires me to keep
Everything you do inspires me to keep workin hard and never giving up on all my dreams ! Love you dearly!— Miley Ray Cyrus (@MileyCyrus) January 29, 2018
Cyrus will also honor John this year at a tribute special titled Elton John: I’m Still Standing- A Grammy Salute, which will be taped from The Theater at Madison Square Garden in New York City two days after the Grammys.
Other artists including Keith Urban, Miranda Lambert, Kesha, John Legend, Maren Morris, Little Big Town, Chris Martin and Sam Smith will complete the lineup. The special will be broadcast in 2018 on CBS.
Later this year, John will begin his Farewell Yellow Brick Road tour, a three-year trek that will see the singer travel the world one last time.
Photo Credit: Getty / Kevin Winter