The idea follows up on a promotion that Castrol ran last year, which asked consumers to remix the music, which itself came from Mahler's Seventh Symphony, into a ringtone.
Now the winning ringtone - mixed by composer and part-time teacher Mark Taylor - has been developed into a song called 'It's Liquid Engineering', performed by R.O.R.C.
Rob Stroud, marketing manager at Castrol, said: "This is a really exciting project for Castrol. The original concept for the ringtone competition was to bring younger users into the Castrol brand, but we never imagined that we'd end up producing a single for chart release.
"We're thrilled that we've been able to have the chance to use our iconic theme tune once more and introduce it to the next generation of car owners."
The song will be released on August 25, with all proceeds from the sale of the single going to the Teenage Cancer Trust.
Composer Mark Taylor added: "I've been producing my own music for a number of years now, but this is the first time that I've had the chance to make it into the charts. The Mahler tune is a real classic, and it was great to have the challenge to remix it into something fresh and modern."
'It's Liquid Engineering' will be available for download from iTunes, 7 Digital and all digital retailers.