The rap superstars' new track follows their feature on Megan Thee Stallion’s mega-hit ‘Hot Girl Summer’.
While the pair previously hooked up with Jason Derulo on 'Swalla' in 2017.
'Expensive' is set for release on August 28.
Alongside the artwork, Ty wrote on Instagram: "Expensive out Friday! @nickiminaj Pre-$ave in bio! (sic)"
Last month, Ty, 38, released the star-studded track, 'Ego Death’, featuring Kanye West, FKA twigs and Skrillex.
And he recently explained that he got the 'Wash us in the Blood' rapper on board because he was aiming for "greatness".
The hip-hop star admitted it was a "blessing" to work with Kanye again on his latest release and he wanted the 'Flashing Lights' hitmaker on there because they always create something special together.
He said: "I was just trying to achieve greatness.
"Every time me and Ye get together, I feel like we just make something great. So I just do my part.
"Every time we get together, it just works. So it's a blessing, man. Shout-out to my bro."
Ty is poised to release a new album titled 'Dream House’ - the follow-up to 2017’s ‘Beach House 3’ - though a firm date is yet to be revealed.
As for Nicki, she has had a slew of features, including the remix of Doja Cat's 'Say So', ‘Move Ya Hips’ with A$AP Ferg and ‘Trollz’ with Tekashi 6ix9ine.
The 'Anaconda' hitmaker returned with her solo single 'Yikes' in February.
