The A Good Man in Africa writer was personally selected to pen 007's latest adventure by the estate of Bond creator Ian Fleming.
Boyd will follow in the footsteps of peers Jeffery Deaver and Sebastian Faulks, who revisited the superspy in their novels Carte Blanche and Devil May Care, respectively.
The author is refusing to give away any plot points or characters, but he has revealed his novel will be set in 1969 and published in 2013 to mark the 60th anniversary of Bond's introduction to the literary world in Casino Royale.
Boyd admits he didn't hesitate when the Fleming estate administrators asked him to write a new Bond book: "For me the prospect appeared incredibly exciting and stimulating."
A longtime fan, Boyd created a character called Ian Fleming in his 2002 novel Any Human Heart.