The move comes ahead of John Lewis' much-anticipated Christmas campaign, which is reported to contain a starring role for the musician.
We received confirmation earlier this year that Elton John would both star in and perform the song for the famous advert this Christmas, with insiders revealing it would tell the story of the star's life.
The clip culminates with him sat at the same piano in the present day and the tag line appears stating: "Some gifts are more than just a gift".
Fans of the new John Lewis ad included former MP and Strictly Come Dancing star Ed Balls, who said it was "totally brilliant", and TV presenter Susanna Reid who responded: "Absolutely love it".
John Lewis" 2017 ad was titled "Moz The Monster', and hit viewers right in the festive feels when it aired last November.
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It ends with a four-year-old Elton running down the stairs on Christmas morning and unwrapping his grandmother's gift of her piano - a scene "inspired by real events" but involving "some creativity", the department store said.
However, Elton is said to have asked for a portion of his undisclosed fee to be donated to the Elton John Charitable Trust. This will presumedly include him receiving his piano for Christmas, as shown in the John Lewis ad.
This is the second time the retailer's Christmas ad has featured Your Song, after singer Ellie Goulding recorded a cover for the 2010 campaign. The song accompanying the advert was Elbow's take on Beatles tune "Golden Slumbers".
John Lewis" flagship store on London's Oxford Street also changed its name to just "John', and shoppers were convinced they had sussed the ad out ahead of its release.