Lady Gaga will follow her eagerly-awaited third solo studio album ARTPOP with a brand new collaboration album with Tony Bennett in January, 2014.

The jazz legend has hailed the 'Applause' star as the 'Picasso of the entertainment world' in a new interview, during which he confirms the duo will release a new collaboration album in January 2014.

"In January of next year we will release the album," said Bennett during an interview in Japan. "It is a very sensational jazz album, with great jazz artists on it, it came out wonderful.

"I consider Lady Gaga the Picasso of the entertainment world. She is, you will find out. She is very intelligent and she is very right and she is a very talented person. I just love her so much, we're just like brother and sister together."

See the duo perform 'Lady Is A Tramp' below

The pair have recorded new versions of classic jazz hits from some of the biggest names in music, and Bennett suggests the duo will continue to work together on future projects.

"We will always admire one another and do things together," he adds. "We recorded all great standards, quality songs; George Gershwin, Cole Porter, Jerome Kern, Irving Berlin, songs like that. With a big swingin' band and great, great, jazz artists playing."

Below: Gaga's Little Monsters hit London for her iTunes Festival performance