The album, titled 'Dancing Queen', will feature 10 tracks including "Waterloo, "Mamma Mia" and "Fernando".
The 72-year-old singer and actor most recently appeared in "Mamma Mia! Here We Go Again".
"After filming 'Mamma Mia! Here We Go Again', I was reminded again of what great and timeless songs they wrote and started thinking 'Why not do an album of their music?'" she added.
Cher believes "it's a perfect time" to release the album, her first since 2013's 'Closer to the Truth'.
"The songs were harder to sing than I imagined but I'm so happy with how the music came out. I'm really excited for people to hear it. It's a perfect time," she said.
The veteran singer also tweeted a snippet of her version of ABBA's 1979 disco classic "Gimme! Gimme! Gimme!".
The album is currently available for pre-order.
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