Listen: Kanye West Drops New 'Only One' Single on New Year's Eve

Kanye West at Outside Lands 2014

Kanye West performs during the Outside Lands Music and Arts Festival at Golden Gate Park on August 8, 2014 in San Francisco, California

Not to be upstaged by the ball dropping in Times Square, Kanye West dropped a new single on New Year's Eve.

"Only One," a sentimental ode to his late mother, Donda West, and daughter North West, features a spare keyboard accompaniment by Paul McCartney on backing vocals by Ty Dolla $ign. No bragging here -- just 'Ye showing off his tender side.

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Listen to the song on West's official site (which is also available on iTunes).

West's wife, Kim Kardashian, posted a photo of her husband and daughter and raved about the single on Instagram. "Everyone asks me what my favorite Kanye song is. It's Only One. Kanye felt like his mom was singing thru him to our daughter," she wrote. "This song makes me cry every time I hear it."

In August, a rough recording of 'Ye's single "All Day" was leaked. Thanks to fans tweeting the unofficial version, it charted on the Billboard Twitter Trending 140 and was at No. 1 for five consecutive hours. Before that, West's song "God Level" debuted in an Adidas commercial (West has a sneaker deal with the brand).

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Fans are anxiously awaiting the follow-up to 2013's Yeezus. West, who's been in the studio, had originally told GQ magazine that he planned to release his seventh studio album in the fall. "I go back and forth. Like, should it be September or should it be October? Should it be November?" he said earlier this year.

Happy New Year -- and here's hoping a full-length release from the hip-hop star is on the way in 2015.