Queen are likely to score their first number one in seven years in a collaboration with boy band Five, according to early sales figures.
The song, a new version of We Will Rock You, will be their second number one single since the death of their original lead singer, Freddie Mercury, in 1991.
Midweek sales figures show the song is in line to knock current number one Ronan Keating from the top slot with his song Life Is A Rollercoaster.
We Will Rock You was originally released in 1977 by Queen on the b-side of their anthem, We Are The Champions.
Five offer "new generation of support" to Queen
Chart expert Gennaro Castaldo, of the HMV retail chain, said: "Queen still have a strong fan base even after all these years.
"With the new generation of support Five bring with them it's a dynamic combination that was bound to perform strongly in the charts."
Queen and Five first got together to perform the track at the Brit Awards earlier this year.
Roger Taylor, Brian May, John Deacon reformed last year to work on a new album.
The band reigned supreme in the 1970s and 1980s with a string of hits including Bohemian Rhapsody and Radio Gaga.
Their greatest hits collection became one of the biggest selling albums of all time, selling over 25 million copies worldwide.