The 'Bonkers' hitmaker and Cheryl recorded 'Everybody, Everyone' for her second solo album 'Messy Little Raindrops' - which will be released next month - and the track is being earmarked to become a big single for the star.
A source told The Sun newspaper: "Cheryl approached Dizzee about working together and they managed to rattle this track out in record time for the new album.
"It was only a matter of time before the current King and Queen of pop came together.
"It was all Cheryl's idea. She's a big fan of Dizzee and his collaborations with other artists. They got on really well and were on the same level. They had a good laugh together.
"Dizzee had a sparkle in his eye for her."
'Everybody, Everyone' seemingly also contains references to Cheryl's recent personal problems - her split from ex-husband Ashley Cole and battle with malaria - with its lyrics about getting through difficult times.
Lyrics include: "I don't know what you're waiting for / Sometimes life's unfair / Don't let that stop you though / I been right where you are before.
"I'm no saint / You're not either / So what we trying to be perfect for?"
Both Cheryl and Dizzee have had success with high-profile duets before, with the pop star working with Black Eyed Peas' will.i.am and the rapper making tracks with both Florence and the Machine and Shakira.