The sentimental ballad is dedicated to Kanye's one-year-old daughter North, and the tot looks adorable as she strolls with her dad in the visual, which was directed by Spike Jonze.
In a short clip, rapper Kanye holds North's hands and gazes into her eyes as they walk through an empty field. Then, as the rain begins to fall, doting dad Kanye covers North's head.
Kanye unveiled the song earlier this month, which is one of a few collaborations with Paul McCartney.
'Only One' is a touching tribute to North, which is told through the perspective of Kanye's late mother Donda West.
Speaking about his new album, Kanye said he hasn't quite come up with a name yet: "We're still trying to find the vibe. [There's] this transition from what I felt when I did Yeezus to what I feel now and we're just creating, so we haven't found it yet."
While talking to Ellen, Kanye also opened up about family life and being married to Kim Kardashian, which he revealed has taught him to "compromise" and "shut up more".
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