The Welsh star will portray John in the forthcoming biopic and remarked on the significance of their duet as he performed at the West Hollywood gala.
“It’s funny how life turns out it isn’t it”, said Egerton before launching into the iconic song.
The performance also seemingly bodes well for the film – Egerton displays some impressive pipes while he’s backed for the most part by Elton on piano.
Last year, Elton’s husband David Furnish also revealed how the singer had given his thumbs up to Taron’s take on his extensive back catalogue.
“When I played the songs for Elton, he was blown away, really blown away,” he told The Hollywood Reporter.
“Elton was like, ‘It can’t get any better for me.'”
He added: “Elton has told Taron, ‘Don’t copy me. Don’t think you have to sing it exactly the way that I sang it. Don’t think you have to perform it the way I performed it’.
“I think it’s the challenge for the actor to embody the spirit and not get into thinking they have to do an impersonation.”
Meanwhile, the first Rocketman trailer dropped last week. You can find out everything about it here, ahead of its release in May this year.