The track is the first single to be released from Jackson's posthumous album Xscape. Usher honored the musician Thursday night at the iHeartRadio Music Awards when he debuted and performed the song in Timberlake's place.
"Love Never Felt So Good" was written by Paul Anka and Kathy Wakefield in 1983. Jackson originally recorded the song with Anka, and the new track is made contemporary with modern instrumentation.
Timberlake announced the release late Thursday night on his Twitter. The singer included the hashtags "#PLAYITLOUD" and "#MJandJT" in the post.
Xscape is set for release May 13. The album will feature eight previously unreleased, "contemporized" tracks, including "Love Never Felt So Good."