The hip hop legend - real name Corey Woods - has revealed he and the 'We Made You' hitmaker have been "scheming and plotting" and as soon as the pair have laid down the right beat, the collaboration will "happen soon".
He told XXL Magazine: "I respect him as being one of the top elites in The Game and I respect him as being a man, too. We scheming and plotting.
"The last statement me and him left off on I was telling him like, 'Yo, you might need to make the beat' and he gave me that look and we both walked away from each other like, 'Word, you right, we might have to do that like that.' So get ready man this is gonna happen soon."
If the pair do lay down a track together, Raekwon will not be the first star to collaborate with Eminem.
After famously having female singer Dido feature on worldwide hit 'Stan' in 2000, the rapper worked alongside pop stars Pink and Rihanna, stating they were the only people who could "pull off" tracks for his new album.
He recently said: "When I did the song that I did with Pink I laid my parts first and kind of heard her on the record. I felt like she would smash this record, so I gave her a call and she was with it, so we did it.
"The other that I did with Rihanna is one of those tracks that I felt only she could pull it off."
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