Craig, 44, who is in Australia driving the release of Skyfall – his latest outing as 007 – will be paid STG31 million ($A48 million) to star in two more titles of the 50-year-old franchise, The Sunday Times reports.

As Skyfall continues to prove itself a box office scorcher around the globe, plans are under way for a 2014 release of the next 007 instalment, followed in 2016 by Craig’s fifth turn in the tuxedo.

Craig’s pay packet has taken a steep climb since he first appeared as Bond in the 2006 flick Casino Royale, for which he received STG3 million, the newspaper reported on Sunday.

Quantum of Solace, 2008, brought in STG7 million for the MI6 tough guy role, while Craig has collected STG17 million for his latest appearance.

Craig’s 007 predecessor Pierce Brosnan earned up to US$16.5 million for his third and final Bond film, Die Another Day.

Sean Connery, the original Bond, was paid an average of STG218,000 for each film, equating to about STG3.2 million in 2012 terms.

The same calculations saw Australian George Lazenby paid STG468,000 for his one-off appearance, Roger Moore earn a STG6.3 million on average per film and Timothy Dalton pocket STG5.4 million per film for his efforts.

The latest deal offered to Craig will see him earn a STG9.6 million on average for each of his five bond films.