Mendes to direct next Bond movie
The Oscar winner will work on the follow-up to his film, Skyfall, for release in 2015 after producers agreed to fit it around his theatre commitments.
Daniel Craig is also officially on board to star as Bond for a fourth time.
Mendes's 007 debut Skyfall - released last year - quickly became the highest-grossing film of all time in the UK.
The unnamed follow-up, which will be the 24th film in the series, is scheduled for release on October 23 2015 in the UK. Screenwriter John Logan, who worked on the most recent film, is also lined up for the next release.
In a statement, 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 John Logan."
He said today: "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.
"I very much look forward to taking up the reins again, and to working with Daniel Craig, Michael G Wilson and Barbara Broccoli for a second time."