The song is the first track from Sheeran's eighth studio album, which is due for release later this year.
Speaking on the US chat show The Tonight Show, the 34-year-old confirmed the record would be titled Play, kicking off a new series of records that will be called Pause, Rewind, Fast-Forward and Stop.
He also suggested that he was planning a posthumous release, containing songs written throughout the course of his life. Speaking to host Jimmy Fallon, he joked that album would be called Eject.
His new material comes at a crucial crossroads in his career. One of the biggest-selling acts of the 2010s, the star's last two albums underperformed.
Subtract, released in May 2023, presented a more understated, introspective side to the star's bubbly pop persona - with production from The National's Aaron Dessner.
Although it received some of the best reviews of his career, it was his first album not to go platinum in the UK.
A companion album, Autumn Variations, released later the same year, fared even worse.
Despite debuting at number one, it left the Top 40 after two weeks, and has yet to be certified gold - meaning it has sold fewer than 100,000 copies.
However, the star remains one of the world's most-streamed acts. On Spotify, 12 of his songs have topped 1 billion plays.
The most popular, Shape Of You, is the second-most streamed song of all time, with 4.3 billion streams.