The `Rocket Man` singer and his husband David Furnish announced on 28.12.10 they had become parents to a baby boy, Zachary, born by a surrogate mother in California on Christmas day (25.12.10), and Elton is now planning to scale back his career commitments to do everything he can for his son.
A source said: "The past year has been leading up to this. Zach is now Sir Elton`s life. This means there is now an heir to his throne, his millions and his legacy.
"Anyone who thinks that he won`t pull his weight in changing nappies and getting up in the night is wrong. His new focus is family life with David and their son.
"Designers have been called about working on the nursery."
The source also said the couple - who took advantage of changing laws on gay marriage to be one of the first same sex couples to tie the knot in England in 2005 - are planning a huge party to celebrate Zach`s birth.
The source added to The Sun newspaper: "There are plans for a suitably over-the-top bash to mark the birth.
"Most dads wet the baby`s head after the birth, but Elton doesn`t drink and there will be plenty of gifts - so a post-birth shower is more appropriate.
"There is a lot of celebrating to do once Elton and David are back in England. But for the moment they are just enjoying these first precious moments with their son."
Elton, 63, and David, 48, chose the middle name Levon after a song on the legendary entertainer`s 1971 album `Madman Across The Water`.