John began the performance sitting at the piano with a single white rose, playing "Tiny Dancer" before Miley Cyrus emerged in a showstopping gown to belt out the tune.
John will also be honored with a tribute concert, Elton John: I'm Still Standing -- A GRAMMY Salute on Tuesday, where he and his longtime writing partner, Bernie Taupin, will receive the Recording Academy President's Merit Award.
The singer opened up about his special while chatting with ET last week, revealing that Cyrus will also be performing at the tribute concert.
"I love Miley. I just asked her if she'd do [the duet] with me and she said yes and she's going to be on the TV special as well," he gushed. "The great thing about the GRAMMYs is that backstage you meet people you haven't met before and it's great when you hang out. It's very cool to meet these kinds of people you don't normally meet, so I'm really looking forward to that."
As for his upcoming retirement -- which will be proceeded by a three-year farewell tour -- John told ET that his two young sons, Zachary and Elijah, are too important for him to continue playing more than 100 shows a year around the world.
"It is all about them. I love my boys," he said. "I hate being away from them, and I've had so many wonderful memories from touring. I have done over 4,000 shows, and I love performing, but I love my sons more."
"When they were younger, we took them everywhere because they were portable," he added of his sons, whom he shares with husband David Furnish. "And then, of course, when they start proper school, they have a schedule. And they sat down and showed me the curriculum, and I said, 'What are we going to do in the future? When is this going to stop?' And I said, 'I really want to stop.'"