Elton is calling Celeste's Hear My Voice a ''wistful kind of song about what do we do now, where do we go from here.''
He wrote: ''It was so beautiful to hear something so poignant after seeing something that set your emotions on fire.''
Celeste's number, from The Trial of the Chicago 7 soundtrack, is nominated for Best Original Song at the upcoming Golden Globe Awards.
This also led Elton to think about last year's awards, when he and Bernie Taupin won the trophy for Rocketman's (I'm Gonna) Love Me Again.
The piano player said it was the first award he and Taupin won as a duo.
''We never won a Grammy, we never did anything together except for this and I'm so happy, thank you very much,'' he said at the ceremony.
Bernie noted, ''This isn't just a song we wrote for a movie. This is a song we wrote for a movie that deals with our relationship.''