Barrett died in July. Gilmour will offer an EP featuring three tracks he performed live, which were originally written by Barrett, a Pink Floyd founder, the BBC reported.
Included on the EP will be a live rendition of Barrett's song "Arnold Payne," with vocals by singer David Bowie, who joins Gilmour in crediting the guitarist as a musical influence.
"His impact on my thinking was enormous," said Bowie. "A major regret is that I never got to know him."
Pink Floyd keyboardist Richard Wright also appears on the album.
The EP is scheduled to be available for Internet download on Christmas Day, and will be released in stores the following day, said the BBC.