Jackson and Paul Anka originally recorded and produced the song in 1983. Singer Usher paid tribute to Jackson at the awards show by recreating his signature dance moves to a sample of the track. The full version of the song became available on iTunes one minute past midnight on Friday.
A bonus version of the single features a duet with Jackson and Justin Timberlake and will also be available on the deluxe version of Xscape.
Epic chairman L.A. Reid enlisted a handful of producers, including executive producer Timbaland and Rodney "Darkchild" Jerkins, who started working on the title track with Jackson in 1999.
"Even when Michael was alive, we never stopped working on the song 'Xscape.' It was one of those songs where he specifically said to me, 'It has to see the light of day one day,'" Jerkins told the Associated Press.
Xscape will be released on May 13 and will feature 8 songs Jackson recorded in the 1980s and 1990s.
See Usher dance to "Love Never Felt So Good" at the iHeartRadio Music Awards: