The Rocket Man singer's piano will now be featured on Weekend Wogan, Radio 2 in Concert and Friday Night Is Music Night as well as other live performances on the radio channel.
After performing at Radio 2 Electric Proms in October, John said: 'I'm delighted to donate one of my treasured pianos to Radio 2, who have supported me so much over the past 40 years.
'The piano is, of course, my favourite instrument to play and I hope it inspires the musicians who play it.'
Radio 2 and 6 Music's Head of Programming Lewis Carnie said: 'It's rare that Radio 2 receives such a generous gift, and we'd like to thank Elton for offering artists who visit the station the opportunity to perform on it and, hopefully, interpret Elton's own work.'
The piano will be put on display in the reception area at Radio 2 in London while it's not in use.