The film will pick up where last year's Casino Royale, the highest-grossing film ever in the Bond series, left off. Daniel Craig will reprise his role as Agent 007 in the film, which has a working title of Bond 22.
The German-born helmer said he always has been a Bond fan and is looking forward to taking on the iconic hero. "The new direction that the Bond character has taken offers a director a host of new possibilities," he said.
Forster will team with Paul Haggis on a draft of Neil Purvis and Robert Wade's screenplay.
Bond 22 is scheduled to begin filming at Pinewood Studios in London in December. Columbia Pictures will release the film worldwide on Nov. 7, 2008.
Producers Michael G. Wilson and Barbara Broccoli lauded Forster for "his exceptional talent and unique vision." Amy Pascal, co-chairman of Sony Pictures Entertainment, agreed, adding that Forster is "an actor's director; he approaches material with intelligence and taste."