Dolly Parton celebrates the 50th anniversary of her 1974 hit I Will Always Love You: ‘It will always hold a special place in my heart’

Just after revealing that Beyonce may have recorded a cover of her 1973 song Jolene, Dolly Parton is celebrating her 1974 song I Will Always Love You.

The 78-year-old country legend took to Instagram on Monday, sharing a video montage of her performing the hit song, which debuted exactly 50 years ago.

The video showed her singing the hit song at various points throughout her illustrious career.

‘Happy 50th Anniversary to my song, “I Will Always Love you.” It will always hold a special place in my heart as I hope it does yours,’ she said in the caption.

Parton wrote the song in 1973, crafted as a farewell to her mentor and duet partner Porter Wagoner as she decided to forge a career as a solo artist.

The singer would later reveal that she wrote I Will Always Love You on the same day that she wrote Jolene.

The single was released on March 11, 1974, landing Parton the top spot on the Billboard Hot Country Songs singles chart in June 1974.

She also topped the country singles charts in October 1982 when she re-recorded the song for the soundtrack of her film The Best Little Whorehouse in Texas.

Parton entered rarified air, earning a #1 single title with two different versions of the same song.

The singer famously also declined an opportunity for Elvis Presley to record a version of the song, since his manager – Colonel Tom Parker – insisted that Parton sign over half of the publishing rights to Presley, which she refused to do.

The song was catapulted into the stratsophere when Whitney Houston recorded a version of it for the soundtrack to her 1992 movie The Bodyguard.

Houston’s version has sold over 24 million copies worldwide, the highest-selling single by a female artist of all time.

It spent a then-record 14 straight weeks atop the Billboard Hot 100 singles charts and won Grammys for Record of the Year and Best Female Pop Vocal Performance.

Parton also re-entered the charts in 1995 when she re-recorded the song as a duet with Vince Gill for her album Something Special.

Radio stations started playing the song after she performed with Gill at the Grand Ole Opry in August 1995 and it was officially released as a single in November 1995.

The duet version debuted on the country charts at #53 and peaked at #15 after its release.

The song has also been covered by a litany of singers including Sarah Washington, Rik Waller and Kristen Chenoweth.