The best actor winner has already said the role would be a dream job.
When asked on "GMA" Thursday if he ever thought he'd be playing a Bond villain, Malek said, "a few things have happened in my life the last couple of years could not imagine," alluding to his Oscar win.
"It's thrilling," he said. "So many generations have grown up with [these films.]"
"I think Daniel [Craig] has just done an astounding job," he said of the British actor's run as 007. "It will be very interesting to go up against that man."
He added, "It's a perfect follow-up to 'Bohemian Rhapsody.' Going from one iconic Brit to another iconic British franchise."
He had kind words for Sean Connery, the original Bond, and Javier Bardem, who played Bond's nemesis in "Skyfall."
Malek will join an illustrious list of those who have starred as Bond villains, including Christopher Lee, Richard Kiel and Mads Mikkelsen.
The new film, Craig's last as 007, will be the 25th in the franchise's epic history.
Other cast announced Thursday included Ralph Fiennes and Naomie Harris.
This is the first Bond film since "Spectre" four years ago and is expected to be released sometime next year.