The 66-year-old feels that starting a family and becoming a father to sons Zachary and Elijah with David Furnish has been better than all his hit records put together.
He enthused: ''I have never been happier than now, with David and our two wonderful sons.''
Asked about the best phone call of his life, Elton replied: ''The call that told David and me our surrogate was pregnant with Zachary.''
The musician went on to say that having children - who were both born via the same surrogate mother - has been the most poignant experience of his life.
Quizzed about what every man should do before he dies, Elton said: ''Witnessing the birth of a child.''
Although sober for many years, Elton has problems curbing another habit - his spending.
He told GQ: ''Nowadays it's just spending - I've given everything else up. My biggest extravagance is buying beautiful things.''