The 'Peggy Sue' singer - who died in 1959 at the age of just 22 in a plane crash - is being commemorated in a 19-track compilation LP called 'Rave On Buddy Holly'.
Set to be released in the US on June 28, the album will feature new interpretations of Buddy's classic tracks, including 'That'll Be the Day', 'Maybe Baby' and 'Dearest'.
Cee Lo will perform his own version of '(You're So Square) Baby I Don't Care', Florence will sing 'Not Fade Away', while punk singer Patti's track will be 'Words of Love'.
Buddy's talent has continued to be recognised since his death and he was among the first musicians to be inducted into The Rock and Roll Hall of Fame in 1986.
In 2004, he was ranked by Rolling Stone at number 13 on "The 50 Greatest Artists of All Time".
Full tracklisting for 'Rave On Buddy Holly':
'Dearest' - The Black Keys
'Every Day' - Fiona Apple & Jon Brion
'It's So Easy' - Sir Paul McCartney
'Not Fade Away' - Florence and the Machine
'(You're So Square) Baby, I Don't Care' - Cee Lo Green
'Crying, Waiting, Hoping' - Karen Elson
'Rave On' - Julian Casablancas
'I'm Gonna Love You Too' - Jenny O.
'Maybe Baby' - Justin Townes Earle
'Oh Boy' - She & Him
'Changing All Those Changes' - Nick Lowe
'Words Of Love' - Patti Smith
'True Love Ways' - My Morning Jacket
'That'll Be The Day' - Modest Mouse
'Well... All Right' - Kid Rock
'Heartbeat' - The Detroit Cobras
'Peggy Sue' - Lou Reed
'Peggy Sue Got Married' - John Doe
'Raining In My Heart' - Graham Nash
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