The musician and his husband David Furnish welcomed son Zachary Jackson Levon Furnish-John ' born to a surrogate mother ' into the world on Christmas Day (25.12.10).
A statement from the couple told Us Weekly magazine: "We are overwhelmed with happiness and joy at this very special moment.
"Zachary is healthy and doing really well, and we are very proud and happy parents."
The baby weighed a healthy 7lbs 15oz, was 22 inches long and was born in California, but no further details about the pregnancy or the surrogate mother have been made public yet.
Elton, 63, married David, 48, in 2005 after being in a relationship together for 12 years.
The Canadian filmmaker has previously talked about raising a family with his pop superstar partner but insisted they were waiting until Elton's touring commitments were less demanding.
He said: 'We don't want to put the raising of children into the hands of nannies and housekeepers. We want to be active parents.'
The couple made a bid to adopt a HIV positive Ukrainian child, Lev, last year, but this was eventually rejected due to Elton's age and the fact the country doesn't recognise same sex civil marriages.
Although they could not adopt the boy, Elton and David continue to support him and his brother financially.
The 'Rocket Man' singer also has 10 godchildren, including David and Victoria Beckham's sons Brooklyn and Romeo and Elizabeth Hurley's son Damian.