“Angel of Harlem” - U2 (Billie Holiday)
“Pride” - U2 (MLK)
“The Right Profile” - The Clash (Montgomery Clift, although it wasn’t exactly a ‘tribute’)
This isn’t a tribute to a dead musician, but a funny nod to one which has always amused me. On Joan Baez’s Greatest Hits, she does a version of “Simple Twist of Fate” where on one of the verses she does an impersonation of Dylan’s singing style, before reverting to her own. Very funny.
Never Without You - Ringo Starr (George Harrison)
In 1992, the Righteous Brothers updated their “Rock and Roll Heaven” to include Elvis Presley, John Lennon, Roy Orbison, Jackie Wilson, Rick Nelson, Dennis Wilson, Marvin Gaye, Sam Cooke, “Mama” Cass Eliot, and Stevie Ray Vaughn.
Guitar demigod Eric Johnson paid tribute to guitar god Stevie Ray Vaughan with S.R.V. (YouTube video isn’t synched with the audio very well, but it’s watchable).
Stevie Wonder “Sir Duke”–Duke Ellington
**Syd Barrett ** was still alive at the time, of course, but Pink Floyd’s songs “Shine On You Crazy Diamond” and “Wish You Were Here” (and its namesake album) reference him.
All My Love off the In Through The Out Door was written by Robert Plant as a tribute to his son, Karac who died in 1977.
Elton John and Bernie Taupin’s “Candle in the Wind” has been used as a tribute song for both Marilyn Monroe and Princess Diana. The original lyrics referred to Marilyn. A rewrite, called “Candle in the Wind 1997,” was released following Diana’s death.
I have read that Bernie Taupin got the idea for the song after he saw the phrase “candle in the wind” in an article about Janis Joplin.
Kate Bush’s “Blow Away”:
Put out the light, then, put out the light.
Vibes in the sky invite you to dine.
Dust to dust,
Blow to blow.
Bolan and Moony are heading the show tonight.
Hello Minnie, Moony, Vicious, Vicious,
Buddy Holly, Sandy Denny.Sorry for the delayed response, folks. Wow…thanks for all the contributions!
I just knew someone was going to go there… 
And thanks to pinkfreud – not sure how I didn’t think of Candle In The Wind. Most of the songs mentioned are ones I don’t know, so I really appreciate the education.
And sure, if other folks want to talk about tribute songs to still-living folks, be my guest!
“Incommunicado” - Jimmy Buffett (John Wayne)
Now on the day that john wayne died
I found myself on the continental divide
Tell me where do I go from here
Think Ill ride into leadville and have a few beers
I think of red river or liberty valance
Cant believe the old mans gone
“The Train Carrying Jimmie Rogers Home” - Nashville Bluegrass Band
Paul Simon’s The Late Great Johnny Ace - Johnny Ace and John Lennon
Tom Paxton’s Crazy John John Lennon
Eric Clapton’s “Tears in Heaven”.
311 leader singer Nick Hexum wrote a tribute to Jerry Garcia on the day he died. It was called, fittingly, Tribute. What any of the lyrics have to do with Mr. Garcia I don’t know, but it’s a pretty good song.
It’s not as direct as most of the other songs in this thread, but Knock Me Down by the Red Hot Chili Peppers is about Hillel Slovak, who died of a heroin overdose. The lyrics reflect Slovak’s (and Keidis’s) struggle with addiction and the second verse conveys the feelings sadness and emotional loss after Slovak’s death.
Pete Townshend throws a whole boatload of names into “Mirror Door”. For example, here’s one stanza:
And, of course the joke is that Pete didn’t know Doris Day was still alive. He talked about putting her in the music video as an usher to the Stairway to Heaven, but the chances of that happening are nil, I’d say.
Eric Clapton did S.R.V. Shuffle on the Stevie Ray Vaughn tribute album.
It also includes the great rendition by Jimmy Vaughn/ Eric Clapton/ BonnieRaitt/ Robert Cray/ B.B. King/Buddy Guy/Dr. John/Art Neville of “Six Strings Down” which names a number of blues musicians.
Lord they called
Another blues-stringer back home
Albert Collins up there
Muddy an’ Lightnin’ too
Albert King and Freddy
Playin’ the blues
T-Bone Walker, Guitar Slim
Little Son Jackson and
Frankie Lee Sims
Heaven done called
Another blues-stringer back home
Maybe I should have read the OP a little closer and actually found a tribute to a musician! :smack:
“Hey Man Nice Shot” - Filter
Supposedly the song is about Pennsylvania Treasurer Budd Dwyer, who shot himself at the end of a press conference after being accused of corruption.
However, rumors persist that the song is really a dark tribute to Kurt Cobain.