YouTube stars Mark and Roxanne Hoyle have raised money for the Trussell Trust food bank charity with their sausage roll-themed singles since 2018.
This year's attempt is a cheeky version of Ed and Elton's Merry Christmas, called Sausage Rolls For Everyone.
LadBaby could overtake the Spice Girls and Beatles as the act with the most consecutive Christmas number ones.
The Beatles had three in a row in the 1960s and the Spice Girls achieved the same feat in the 90s, with LadBaby matching the record over the past three years.
Sheeran was the last artist before the Nottinghamshire couple to have a festive number one, with his 2017 love song Perfect.
The star said he was "proud" to be supporting and featuring on LadBaby's single this Christmas.
"All profits will be donated to The Trussell Trust, which is a very wonderful and important charity, so make sure you stream it, buy it and play it on repeat," Sheeran said.
In a statement, Hoyle said: "Ed and Elton are pop royalty and they've both had huge success at Christmas, so we're honoured and excited to be coming together to help families this Christmas... with the power of sausage rolls."
The charity song will be released on 17 December, but bookmakers have already made it odds-on favourite to top the festive charts.