The British actor is stepping into the superspy's shoes for a third time, while Javier Bardem and Naomie Harris are in talks for roles in the 23rd 007 film.
Craig is eager to start work on the thriller, which is slated for a 2012 release - and he's especially delighted to be working with American Beauty filmmaker Mendes.
He tells MTV News, "We've got a great script this time. I'm as excited about this script as I was about the Casino Royale script.
"I think in Sam we've got the perfect director. The cast is coming together now. I can't wait to get going on it."