The collaboration appears on the deluxe edition of 'In Waves.'
In addition to the new track, the duo also released dates for a 2025 tour.
This is just the first wave of performers announced, with more set to be revealed in the coming days.
The Little Dragon frontwoman will release her first solo LP on March 28.
The news comes just a day after voluntarily withdrawing his November legal action against UMG and Spotify.
Young, who last performed at the festival in 2009, has expressed concerns about the BBC's expanded presence at this year's event.
Taylor Swift became the winningest artist in BBMA history, breaking her tie with Drake
The new dates begin on 25 April in NYC.
The festival will also feature performances from Yo La Tengo, Car Seat Headrest, St. Vincent, Black Country, New Road, Future Islands, and many more.
The tour kicks off on 19 April, 2025 in Minneapolis.