The next instalment of cinema’s iconic British superspy James Bond will be directed by Canadian filmmaker Denis Villeneuve, Amazon MGM studios says.

The four-time Academy Award nominee has earned critical acclaim and box office success with the Dune franchise, as well as with Prisoners, Blade Runner 2049 and Arrival.

In a statement on Thursday (Australian time), Villeneuve described himself as a “die-hard” James Bond fan.

“Some of my earliest movie-going memories are connected to 007. I grew up watching James Bond films with my father, ever since Dr No with Sean Connery,” he said.

“To me, he’s sacred territory. I intend to honour the tradition and open the path for many new missions to come.

“This is a massive responsibility, but also incredibly exciting for me and a huge honour.”

The announcement comes amid continued speculation about who will replace Daniel Craig as the new James Bond. Among the names regularly mentioned are Henry Cavill, Aaron Taylor-Johnson, Idris Elba, Theo James, and Jonathan Bailey.

Bailey – the star of Bridgerton, Wicked and Jurassic World Rebirth – set Bond fans alight this week when he appeared in a martini commercial.

“That’s an amazingly flattering ask. It would be hard to say no,” Bailey told BBC Two last week when asked if he’d be up for playing 007.

“I don’t know, I really honestly, I mean it would be hard to say no.”

Villeneuve will also be executive producer of the upcoming Bond flick, alongside his wife Tanya Lapointe.

It marks the latest step in a major overhaul of the Bond franchise, following Barbara Broccoli and Michael G Wilson handing over creative control to Amazon MGM Studios as part of a lucrative deal.

Under the terms of the agreement, the Broccoli family, long the force behind the Bond films, agreed to co-own the intellectual property and granted Amazon the ability to move forward without their creative approval.

In March, Spider-Man‘s Amy Pascal and Harry Potter’s David Heyman were announced as new producers.

Mike Hopkins, head of Prime Video and Amazon MGM Studios, said he was honoured to have Villeneuve on board.

“He is a cinematic master, whose filmography speaks for itself. From Blade Runner 2049 to Arrival to the Dune films, he has delivered compelling worlds, dynamic visuals, complex characters, and-most importantly-the immersive storytelling that global audiences yearn to experience in theatres,” he said.

“James Bond is in the hands of one of today’s greatest filmmakers and we cannot wait to get started on 007’s next adventure.”

-with AAP