Madonna offered the olive branch to the British singer by playfully dedicating to him the Golden Globe winning song "Masterpiece" which John hates.
John had recently slammed Material Girl's new album and world tour in an expletive-riddent TV interview recently
"She's such a nightmare. Her career is over, I can tell you that. Her tour is a disaster... And she looks like a...Fairground stripper."
Madonna decided to punish John in her own way during a concert Tuesday night in Nice, France, the Hollywood Reporter said.
"I'd like to dedicate this next song to a Mr Elton John," she told the crowd.
"I know he's a big fan of it, and I know he's a big fan of mine. And you know what? I forgive him. Gotta start somewhere."
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The song she launched into was "Masterpiece," a composition from her directorial debut WE, which beat out John's "Hello Hello," from Gnomeo & Juliet, for Best Original Song at January's Golden Globes.
It was that defeat that led John's husband, David Furnish, to bitterly slam Madonna on Facebook.
"Madonna winning Best Original Song truly shows how these awards have nothing to do with merit. Her acceptance speech was embarrassing in its narcissism."
He later deleted the comments, and called the ensuing controversy "a tempest in a teapot."