The veteran guitarist started recording for the planned album after realising his studio jams reminded him of Rod, who was the singer in his Jeff Beck Group in the 60s.
He explained to Gigwise: "Last week I was in San Francisco to just do some recording with my drummer. Then there was one point when it went from Jeff Beck over to Rod Stewart, in terms of the direction.
"Immediately I started doing bluesy riffs and a record that was suitable for Rod. Rather than mess about for a week, we decided to get straight to it - and we cut eleven songs and backing tracks ready for Rod."
Jeff is meeting the 'Do Ya Think I'm Sexy?' singer today (25.02.11) to discuss adding vocals to the instrumental tracks.
He said: "I hope things go well, it's the crunch day. We just need to tailor the songs to his voice and then the record is done.''
The 66-year-old rockers previously reunited in 1985 on a cover of 'People Get Ready' by Curtis Mayfield, and announced plans to work together again earlier this month.
Rod's manager, Arnold Stiefel, said at the time: "They have some really clever things planned - it's mind-f***ing stuff."