It's an old Jimmy Webb song that was very popular back in the day. That day was the late '70s, early '80s. It was recorded by a number of artists, including Webb himself in 1977, but the most popular cover of it was probably that done by Johnny Cash, Waylon Jennings, Willie Nelson, and Kris Kristofferson in 1984.
It's an unusual lyric about reincarnation - not a subject that is often written about in a pop lyric - but for those of us who believe that nothing is ever really destroyed but only changed, matter into energy or energy into matter, it is very meaningful.
by Jimmy Webb
As a bonus, here is that most famous cover of the song, in a performance recorded in 1990.
Cash and Jennings are gone now, of course. And yet they are still around...and around...and around...