He revealed that their friendship was largely based around going to clubs together 'all the time' along with 'dishing the dirt' and 'taking drugs' together.
Sir Elton said: "There’s nobody like Freddie. He was larger than life. So funny, so gifted. So talented in what he wanted to do in his videos. Using ballet dancing. He had such an incredible mind and was one of the funniest people I’ve ever met and was so wonderful to spend time with."
"And dish the dirt and laugh and laugh and laugh. There was a club in London on Jermyn street that I used to go to a lot. We were there every night."
"It was just great. It was like John Lennon, hanging out with him was a pleasure. There was no attitude, it was just a laugh."
"For me, probably apart from Mick [Jagger] - who I think is probably the greatest singer in a band and entertainer, Freddie was definitely second."
Sir Elton then went on to tell a story from his time at Live Aid, with Freddie’s performance with Queen becoming an iconic moment in pop history.
"I was at Live Aid and when we did Live Aid I had this big area built backstage which everybody could come and have a drink at, all the artists on the show. I went on before Queen and I wore this ridiculous kind of hat. Freddie came back and they’d completely trounced it!"
"I said, ‘Well, nobody needn’t go on now Freddie, you’ve just completely and utterly swept the board and you were absolutely brilliant’. He said, ‘Yes darling, we were… and what were you wearing? You looked like the f*****g Queen Mother!’ And I did."