The new James Bond film will be "Bond with a capital B", according to its star Daniel Craig.
Veteran actor Albert Finney joins Ralph Fiennes and Javier Bardem in the cast for the film, which is called Skyfall.
They will join regulars including Dame Judi Dench, who plays spy boss M, in the film directed by Sam Mendes.
Producer Michael G Wilson said the title - officially confirmed today at a press conference - was "the worst-kept secret in London".
Mendes, who admitted he had been a fan of the films since childhood, said the film would be shot in locations including London, Turkey and Scotland.
Craig, who has already starred in two films as the suave secret agent, said he would like to play 007 for "a few more years".
He said: "Being lucky enough to get the chance to do a third one, it is my intention to make the best Bond movie we possibly could - and Bond with a capital B - and I'm just incredibly proud to be part of this group of people."
The Bond girls are played by Naomie Harris, who plays an agent called Eve, and French actress Berenice Marlohe who said her character would be "glamorous" and "enigmatic".
Harris revealed she has been in training for the role, saying: "I've been doing yoga three times a week to get into shape and stunt-driving and firing machine guns, which I've discovered I've got a real taste for."
Producer Barbara Broccoli said they had been "considering various people" to perform the film's theme music but had not made any decision.
Finney has already been a villainous star of rival Bourne film franchise, but movie bosses would not go into detail about his or Fiennes's roles in the new Bond film.
The announcement of the new film comes 50 years to the day after Sean Connery was announced in the press as the man to play the superspy in Dr No.
Ajay Chowdhury, from the James Bond International Fan Club, said the new film looked set to "be an intriguing new entry in the Rolls-Royce of movie franchises".
He said: "Daniel Craig's third time as 007 has been awaited with bated breath by Bond fans around the world who have been made to wait extra long for this film as the world recession delayed the MGM green light for some time.
"Mendes is a left-field directing choice, but with the acting talent involved and the precedent set by the previous two films, Skyfall promises a Bond film where the sky may not be the limit."
The film is set to be released in the UK next October.
Craig's casting as Bond helped to reinvigorate the film franchise, leading to the highest 007 box office takings of £367 million for his debut in Casino Royale in 2006.
Quantum Of Solace, the most recent film in the series released in 2008, generated £353 million.
Mendes, who won an Oscar for American Beauty, said the film would have "a lot of action".
He said the presence of Craig in the starring role was one of the reasons he got involved and said the actor's performance as Bond had "opened up all sorts of wonderful possibilities for the character".
A cryptic Mendes also said rising star Ben Whishaw would appear in "a part I can't tell you about in scenes I can tell you nothing about".
He also revealed that a large section of the movie would be shot in Whitehall in central London as well as Shanghai in China.
Former Bond actor Sir Roger Moore gave the film his seal of approval.
Speaking before the press conference, he said: "I thought that Casino Royale was marvellous. I think Daniel Craig is a superb actor and obviously he's done two, they've been successful otherwise he wouldn't be doing a third."