Juicy J and Ty Dolla $ign are also featured on the track, which will be featured in the end credits of the film when it hits theaters.
According to Billboard, the song had been in the works for a year and a half.
"When they asked me to do it, just being a fan and being a musician, it made sense," said Khalifa, who has a tattoo of Donatello on his calf. "In my generation, I think everyone who listens to me loves the Turtles as much as I do, so it just made sense."
The song, which features the melody from the film’s score by Brian Tyler, starts off with a boisterous, multi-layered beat and a superhero worthy chorus: “knock, knock, you about to get shell shocked.”
First up to bat is Wiz, who serves up lines filled with the kind of TMNT references that a true fan would make.
“Us against the world we can battle whoever, together ain’t no way we gon fail,you know I got your back, just like a turtle shell,” he raps, before comparing Michelangelo to an orange Lamborghini.
The accompanying video is set to be released next week.
“Teenage Mutant Ninja Turtles” hits theaters August 8.