"Writing the theme song for a Bond film is something we've been dreaming about doing our entire lives. There is no more iconic pairing of music and cinema than the likes of Goldfinger and Live And Let Die.
"We feel so so lucky to play a small role in such a legendary franchise, long live 007."
Producers Michael G Wilson and Barbara Broccoli added: "We are excited to announce that Billie and Finneas have written an incredibly powerful and moving song for No Time To Die, which has been impeccably crafted to work within the emotional story of the film."
The Bad Guy hitmaker was linked to the forthcoming film recently when director Cary Fukunaga followed her and her brother on Instagram - one of 80 people he follows - but prior to that Beyonce and Dua Lipa were also said to be in the running for the big role.
Fukunaga said: "There are a chosen few who record a Bond theme.
"I am a huge fan of Billie and Finneas. Their creative integrity and talent are second to none and I cannot wait for audiences to hear what they've brought - a fresh new perspective whose vocals will echo for generations to come."
And if past performers are anything to go by, Billie could bag herself an award for the song as Sam Smith - who sang Writing's on the Wall for Spectre - received a Golden Globe and an Oscar, while Adele performed Skyfall for the film of the same name and scooped an Oscar, a Brit Award, a Grammy and a Golden Globe.
