Bob Dylan is working on a new album.

The 72-year-old singer has treated fans on his website bobdylan.com by posting a cover of Frank Sinatra's Full Moon & Empty Hearts, which will reportedly be featured on his 36th studio album.

A spokesperson for the musician told Rolling Stone, "This track is definitely from a forthcoming album due later on this year," which will be the follow-up to Tempest, which was released in 2012.

The song was written by Ted Mossmann and Buddy Kaye and was based around Sergei Rachmaninoff's 1901 composition "Piano Concert No. 2 in C Minor." However, Sinatra made the song famous and Dylan's version can now be streamed on his site.

The "Blowin' in the Wind" hitmaker also posted a photograph of himself in what appears to be a vintage album cover entitled Shadows In The Night, referencing Sinatra's song "Strangers in the Night."

Meanwhile, Elvis Costello, Marcus Mumford of Mumford & Sons and Jim James of My Morning Jacket are working with producer T Bone Burnett on a record based on long-lost lyrics written by Dylan. The stars have been recording at Los Angeles' Capitol Studios to work on more than 20 unfinished songs for the record, Lost On The River: The New Basement Tapes, which will be released later this year, alongside a documentary, directed by Sam Jones.

The lyrics come from Dylan's famous 1967 Basement Tapes sessions.