The 29-year-old star took to Instagram to share a Jackson Pollock-inspired painting and told fans he would give them "a Christmas present" at 11am GMT today.
He wrote: "11am GMT tomorrow. A Christmas present.(sic)"
Several fans thanked him for saving Christmas and even their lives, amid the coronavirus pandemic.
US music duo Dan + Shay commented: "OMG IT’S A CHRISTMAS MIRACLE (sic)"
One supporter wrote: "Thank you so much for this, I can’t tell you how much we all need something to look forward to (sic)"
Another posted: "YOU'RE SAVING MY LIFE!!!!! (sic)"
One shared: "YOURE SAVING 2020 (sic)"If the gift is a new song or album it will be the singer's first release in nearly 18 months.
While Ed has not confirmed exactly what he will be giving to the world, UK radio station Power Radio claimed he will drop a new single called 'The Afterglow'.
They tweeted: "Ed Sheeran is back with new single titled ‘The Afterglow’ and it will hit radio stations at 6am ET on December 21st! (sic)"
In June, Ed was named the most listened to artist of 2019.
The 'Perfect' hitmaker – who scored number one albums in the US and UK with last year's star-studded 'No.6 Collaborations Project' – topped music licensing firm PPL's top 10 list for the fourth time.
Ed and Justin Bieber's collaboration 'I Don't Care' made it to fourth place.
In July, Zara Larsson revealed she had made several tunes with Ed which the world will "probably never be able to hear".
She said: "There are definitely songs [with Ed], there's so many the universe will probably never be able to hear.
"We worked together for the album but I've been working on this album for three years."