The Australian pop superstar teamed up with the late music legend to work on a track called Baby Doll with Minogue writing the lyrics and Prince recording the vocals and the song has now mysteriously resurfaced 32 years later.
A source told The Sun newspaper: "Kylie is just as baffled as everyone else as to where the track has come from.
"It was initially delivered to her on a cassette back in the nineties and since Prince's death in 2016, belonged to his estate.
"Any leak is annoying but it's nice for fans to finally know what the mystery song sounds like, God knows they have waited long enough. As for what will happen now if anything, fans will have to wait and see."
Minogue previously confirmed the song's existence during an interview with Zane Lowe in 2020 revealing the pair decided to work on a track together after meeting in London when Prince was in the UK capital for his Diamonds And Pearls tour.
"We just kind of hung out. I don't even know what that means, but we hung out and he kind of put me on the spot a bit. He was like: 'So where are your lyrics?,'" she explained:
Minogue went on to reveal the superstar's driver later delivered her a tape of the recording: "There's a cassette in my hand with Prince singing, a song called Baby Doll, that I kind of was involved with, but he who slept four hours a night or something and just created stuff the rest of the other 20 hours.
"That was my almost, we didn't record it."
Billboard reports there had been plans to free Baby Doll from the Prince vault for a project called Diamonds and Love in 2022 which featured unreleased material recorded during sessions for Diamonds and Pearls and Love Symbol but it was ultimately axed from the record, which was released in 2023.