But, as reported by many tabloids around the globe, their friendship hasn't always been an easy one, with many revealing that their relationship has long been a very competitive one.
And it seems at the moment the two musical legends are not on speaking terms.
The spat between the two singers was revealed by Rod Stewart in a recent radio interview.
"I do love Elton, only we’re not talking at the moment. We’ve had a spat." Rod told the radio hosts.
When asked what the 'spat' was over, Rod revealed that he had criticised Elton John's latest tour Farewell Yellow Brick Road - that will be in New Zealand this coming February.
"I criticised his tour as being money-grabbing." Rod said.
He also called some of the dancing in Rocketman "a bit Mamma Mia!."
Here's hoping this feud between two of our favourite artists blow over soon!