The trio will give the performance shortly after John is presented with the iHeartRadio Icon Award by Chris Martin and Lil Nas X.
With one diamond, 38 platinum or multi-platinum, and 26 gold albums, as well as over 50 Top 40 hits, John is one of the top-selling solo artists of all time. He has sold more than 300 million records worldwide and holds the record for the biggest-selling single of all time, "Candle in the Wind 1997."
In addition to his contributions to music, John has established one of the leading non-profit HIV/AIDS organizations, the Elton John AIDS Foundation. Past honorees of the iHeartRadio Icon Award include Bon Jovi.
Hosted by Usher, this year's iHeartRadio Music Awards will feature a slew of performers including The Weeknd with special guest Ariana Grande, Bruno Mars & Anderson .Paak (Silk Sonic), Dan + Shay, Doja Cat and more. Taylor Swift, Dua Lipa, Roddy Ricch, Twenty One Pilots, Megan Thee Stallion and more artists are also set to appear on the awards show.
The iHeartRadio Music Awards will air Thursday, May 27, at 8 p.m. ET/PT on Fox.