The late Queen icon died in 1991, and last Friday a new version of a recording of Time Waits For No One was made available.
The song was originally part of the soundtrack to the 1986 West End musical Time, and was written by Dave Clark.
It had its radio premiere last week before being released to download stores and streaming services, with Spotify showing that it has already had more than 400,000 plays.
The accompanying video, meanwhile, has had an incredible 4.7 million views in just a few short days.
As a result, Mercury is set to return to the UK charts this week – for the first time as a solo artist since 1993.
It was two years after his death when a then-new version of Living On My Own was released, spending two weeks at number one.
More tracks featuring his vocals have been unveiled since – for example the 2000 release of Guide Me Home with Montserrat Caballe, and the 2006 remix of Love Kills – but none have impacted the UK charts.
But according to the Official Charts Company, Time Waits For No One is on course to scrape into the Top 100, hanging on right at the bottom at No100.
MORE: Brian May’s huge Freddie Mercury tribute leaves fans emotional
There are still a few more days’ worth of sales and streams to be counted before this week’s final rankings are announced on Friday.
But if the song can maintain – or even increase – its momentum, Mercury will officially be a chart star once again.
Taking to Instagram, his Queen bandmate Brian May explained how the new recording came to see the light of day.
“This new version of Freddie’s take on the theme song from Dave Clark’s 1986 musical of the same name is getting lots of attention,” he wrote.
“I see people asking why it wasn’t available until now, but of course it was. The original version is still up there on YouTube, with 3.4 million views!
“A lot of people are asking us why this release was done in certain ways, but none of our team had anything to with this remake – so we can’t help you! It’s not a Queen song, so it doesn’t come under our jurisdiction.
“It’s obviously not a Freddie-penned song either – he got involved as a favour to his close friend Dave Clark.
“Being Freddie, he couldn’t (like me, I guess!) half-do it. He plunged in and did a huge production on a rather featureless song, determined to make it into a timeless epic!
“Freddie’s production included a big ‘orchestration’, and loads of glorious vocal harmonies, and the original video had him interacting (visually only) with the cast of the musical. None of which you get in this new version, because Dave Clark has, for this release, smartly lifted Freddie’s lead vocal and placed it alone with a new piano track – played by Mike Moran.
“So you don’t get Freddie’s production, but what you DO get is Freddie’s lead vocal almost naked, and clear as a bell. And WHAT a vocal – what a voice!
“Freddie poured so much passion into it you get the impression he could make you weep singing the phone directory!!!
“I hope this does well, because Dave Clark is a very nice man, and was a great friend to Freddie.”