Proceeds from the holiday CD will be divided between the Jett Travolta Foundation -- an organization named for Travolta's late autistic son, which combats children's disabilities, including autism and seizures -- and the Olivia Newton-John Cancer and Wellness Centre in Australia, the celebrity news outlet said.
Among the tracks on the holiday album, which is due out Nov. 13, is the original song "I Think You Might Like It," a follow-up to the "Grease" hit, "You're the One That I Want." Barbra Streisand, Tony Bennett, James Taylor, Chick Corea and Kenny G will also be featured on the CD, E! News said.
"I wanted people to be able to play it around the house or in the car during the holiday, and make us part of your celebration," Travolta said in a statement. "Gathering around the house listening to Christmas music has always been an important part of that time of year to my family."