The 49-year-old actor, who's the second longest serving Bond after Roger Moore, previously suggested he was done with the franchise after his fourth appearance as the iconic spy in Spectre.
But during an appearance on The Late Show with Stephen Colbert on Tuesday, he was asked if he would be playing the iconic role for the fifth time.
He replied: 'Yes. I couldn't be happier. I've been quite cagey about it. 'I've been doing interviews about it all day and people have been asking me and I've been kind of coy but I kind of felt like, if I was going to speak the truth, I should speak the truth to you.'
The star admitted he 'always wanted to return' to the role, but confirmed the next Bond movie will be his last.
He added: 'I think this is it. This is it. I just want to go out on a high note, and I can't wait.'
Craig remains the highest paid Bond of all time, raking in an estimated $50million (£39million) for Spectre alone, which is more than any of the other actor's earnings for their respective films combined.