"The song's been in the closet for 20 years. The timing's right for it to come out," said Willie Nelson who recorded the track at his home in Texas last year.
"I'm just opening the door," added Nelson.
The new release is being exclusively made available for download via the Apple iTunes music store.
Speaking to the Dallas Morning News, Willie Nelson's manager David Anderson, who had announced that he was gay two years ago, said he hoped the song would reflect well on the Country singer.
"This song obviously has special meaning to me in more ways than one," said Mr Anderson."
Willie Nelson also features on the soundtrack of Brokeback Mountain, with a song titled He Was A Friend of Mine, and it had already hit number 54 in the American charts earlier this year.
