Daniel Craig is set to become the highest-paid James Bond actor after signing on for two more films as the famous British spy.

The 44-year-old actor, who is currently in Australia promoting the release of Skyfall, will be paid $48 million to star in two more titles of the 50-year-old franchise, London's Sunday Times reports.

As Skyfall continues to top cinema charts around the world, plans are underway for a 2014 release of the next 007 instalment, followed in 2016 by Craig's fifth turn in the role.

Craig's 007 predecessor Pierce Brosnan earned up to $US16.5 million for his third and final Bond film, Die Another Day.

The latest deal offered to Craig will see him earn a 9.6 million pounds ($A14.7 million) on average for each of his five Bond films.