Daniel Craig will keep his licence to kill for at least five James Bond films.
The decision puts the actor just two movies short of Roger Moore's record of seven 007 outings and just behind Sean Connery's six.
His remaining contracted fourth and fifth films will be the 24th and 25th movies in the official EON series, the website MI6 reports.
Sony Pictures - via a new co-financing deal with MGM - are set to continue the relationship that started with Casino Royale with the plan to return to the two-year cycle to produce the 007 films, which would mean Bond 24 arriving in late 2014.
Producer Michael G Wilson has also said publicly that he hopes Craig will go on to be the longest serving actor in the role.
A total of five outings would make him the third longest serving James Bond actor in terms of films produced.
Sky Movies will be showing all the 007 films on a dedicated Bond Channel this October. For full details click here.