Moore said he will release the song, which is highly critical of the event, next Thursday, when Arthur’s Day takes place.
In a statement, Diageo described Arthur’s Day as a unique music event enjoyed by millions, which supports emerging Irish music.
The company also said it promotes responsible drinking and discourages alcohol misuse all-year round.
In the song called Arthur’s Day, Moore sings that the event is designed by advertising men, with medics working overtime and in the firing line, while Diageo goes AWOL at closing time.
Alcohol Action Ireland has welcomed the singer’s intervention.