The 54-year-old actor has signed up to star in 'Bond 24' possibly as the villain, replacing Chiwetel Ejiofor whose deal did not go through, reported Ace Showbiz.
Neither MGM, Sony nor Michael G Wilson and Barbara Broccoli's Eon have commented on the news.
Bamigboye said Waltz will have "significant" role in the movie but "it's not immediately evident whether the part's friend, or foe, or a bit of both."
Daniel Craig will return for the fourth time as the British spy, starring opposite Ralph Fiennes as the new M, Naomie Harris as Eve Moneypenny, Rory Kinnear as Bill Tanner and Ben Whishaw as gadget tech Q.
'Skyfall' helmer Sam Mendes is directing the film.
Filming begins next month in such locations as in Mexico, Austria, Morocco, Italy and London. The movie is scheduled for theatrical release on November 6, 2015.
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