The song `` Can You Feel the Love Tonight '' by Elton John and Tim Rice won the Academy Award for Best Original Song , the Golden Globe for Best Original Song , the BMI Film Music Award , and the Grammy Award for Best Vocal Performance Male . Most notably , the song `` Can You Feel the Love Tonight '' by Elton John and Tim Rice won the Academy Award for Best Original Song , the Golden Globe for Best Original Song , the BMI Film Music Award , and the Grammy Award for Best Vocal Performance Male .