The 41-year-old took to the stage towards the end of the three-hour event in London's Hyde Park to sing the Swedish group's 1980 hit Super Trouper.
She later returned to perform When All Is Said And Done with Abba songwriter Benny Andersson.
Minogue said it was "a dream come true" to appear on stage with the Scandinavian musician.
Chaka Khan, Jason Donovan and Lulu were among the other music stars to sing songs from the Abba back catalogue.
Hosted by DJ Chris Evans with lyricist Sir Tim Rice and Swedish actor Stellan Skarsgard, the concert was broadcast live on BBC Radio 2.
Jazz musician Jamie Cullum, West End star Elaine Paige and Marti Pellow of Wet Wet Wet also appeared, as did the London cast of Abba stage musical Mamma Mia.
"Life can be pretty wonderful," he continued. "Thank you for giving us this unforgettable experience."
Speaking to Radio 2's Richard Allinson afterwards, Ulvaeus confessed it had been a "very emotional" occasion.
Formed in 1970, Abba achieved nine UK number one singles before unofficially disbanding in 1982.
Since then Andersson and Ulvaeus have collaborated on a number of projects, among them the West End musical Chess.
Later this month, an English version of their 1995 musical Kristina from Duvemala will be presented at New York's Carnegie Hall.
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