Sam Mendes will direct the 24th James Bond film, with actor Daniel Craig reprising his role as the British spy.
After the success of his Bond directorial debut, Skyfall, Sam will be returning to the director's chair. The film won two Oscars and the Outstanding British Film Award at the BAFTAs.
It grossed over £100million at the UK box office, making it the most successful Bond movie ever and the highest-grossing film of all time in the UK.
Sam, 48, said: "I am very pleased that by giving me the time I need to honour all my theatre commitments, the producers have made it possible for me to direct Bond 24." The new film has been given the working title of Bond 24 and is due for release in October 2015.
Producers Michael G. Wilson and Barbara Broccoli said: "Following the extraordinary success of Skyfall, we're really excited to be working once again with Daniel Craig, Sam Mendes and [screenwriter] John Logan."
Sam has recently been directing a new West End Musical, Charlie and the Chocolate Factory, based on the popular Roald Dahl children's book. The show has received rave reviews since it's opening in June.