Craig confirmed the news that had been widely expected during his appearance on Tuesday's edition of "The Late Show With Stephen Colbert."
Colbert pressed Craig about his quote, when he joked that he would "rather break this glass and slash my wrists" than return to the role. Craig said he gave that interview two days after "Spectre" finished shooting, when he was still exhausted.
— A Late Show (@colbertlateshow) August 16, 2017
"Instead of saying something with style and grace, I said something really stupid," he said.
Craig also said that his fifth Bond pic would be his last.
"I think this is it. I just want to go out on a high note," he added. "I can't wait."
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The British actor has been cagey about his return, even saying in a radio interview earlier Tuesday that nothing was confirmed.
"White Boy Rick" director Yann Demange is the frontrunner to direct Bond 25, which is dated for Nov. 8, 2019. After Eon Productions' deal with Sony ran out after "Spectre," the franchise is in search of a new studio for distribution. Warner Bros. is believed to be closest to landing the deal.
The last Bond film, "Spectre," grossed $880 million worldwide in 2015, while "Skyfall" brought in a hefty $1.1 billion in 2012.
Craig took over from Pierce Brosnan starting with 2006's "Casino Royale," then returned for "Quantum of Solace" in 2008.