Entitled "This Christmas," the new recording will be available beginning Nov. 13 from Universal Music Enterprises.
Travolta and Newton-John will donate the artist proceeds from the album equally to their respective charities, the Jett Travolta Foundation and the Olivia Newton-John Cancer and Wellness Centre in Melbourne, Australia.
One of the highlights of the album is the one original song, John Farrar's "I Think You Might Like It," which is billed as a "sequel to John and Olivia's 'Grease' smash, 'You're the One That I Want.'"
Produced by veteran keyboardist/arranger/orchestrator Randy Waldman, "This Christmas" boasts guest vocalists Barbra Streisand ("I'll Be Home for Christmas"), Tony Bennett and the Count Basie Orchestra ("Winter Wonderland"), James Taylor ("Deck the Halls"), Chick Corea ("This Christmas"), Kenny G ("Rockin' Around the Christmas Tree") and Cliff Richard ("Have Yourself a Merry Little Christmas").
"It just fell into place," added Newton-John.. "With our busy schedules, I don't know how we got it done. John and I have always connected. That's never gone away. When we're together, we have a good laugh and feel bonded to one another. We've been through some amazing experiences together."
"My desire was to make 'This Christmas' an intimate album, not something too ostentatious or showy," said Travolta, who early in his career was featured as an actor/singer/dancer with the touring company of Grease. "I wanted people to be able to play it around the house or in the car during the holidays, and make us part of your celebration. Gathering around house listening to Christmas music has always been an important part of that time of the year to my family."
The complete track listing follows:
1. Baby It's Cold Outside
2. Rockin' Around the Christmas Tree (featuring Kenny G)
3. I'll Be Home for Christmas (featuring Barbra Streisand)
4. This Christmas (featuring Chick Corea)
5. Silent Night
6. The Christmas Waltz
7. Have Yourself a Merry Little Christmas (featuring Cliff Richard)
8. Winter Wonderland (featuring Tony Bennett and The Count Basie Orchestra)
9. White Christmas
10. I Think You Might Like It
11. The Christmas Song
12. Deck the Halls (featuring James Taylor)
13. Auld Lang Syne/Christmas Time Is Here (Medley)