This is not canon, because Christopher explicitly edited out references to Dagor Dagorath in the final published Silmarillion (due to a note in John's last draft that Mandos' prophecy was never heard by any but the Valar). However in earlier versions, the book concluded with Mandos telling a prophecy of the end of the world, which would describe Melkor being finally killed by a reincarnated Tūrin. From what I remember, #At Dagor Dagorath, humans who died in Arda will be reborn to fight in the final battle, and when the universe is remade humans progress into the second universe (Second Song of the Ainur) while the elves remain in what is left of Arda.