Morrison, 32, and Paltrow, 38, have already shown they have good onscreen chemistry as teachers Will Schuester and Holly Holliday on the hit US TV series Glee.
And now the pair are hoping their chemistry will translate to the recording studio.
The Country Strong actress duets with Matthew on his self-titled album, which is scheduled to be released in May.
He says he asked Gwyneth to sing on the album when she was working on Glee, but admits the conversation was a bit weird.
The singer-actor told Entertainment Weekly: 'The hardest part of doing this album was asking these people favors, like Elton [John] and her. I'm so not that guy.'
The stars will be covering Over the Rainbow - a tune that is familiar to people who watch Glee.
He added: 'People kind of know me for that song. I wanted to do a duet with a female. I thought that was a good song to do, and we really did a different arrangement of it. It is a lot of strings, and it is beautiful.'