Christoph Waltz will play the iconic James Bond villain Ernst Stavro Blofeld in the 24th 007 film, according to the Mail on Sunday.

The two-time Oscar-winner is expected to be named as Daniel Craig’s latest opponent next month. Previous reports suggested Waltz would initially portray a conflicted role — neither “friend” nor “foe” — in the new Bond movie.

However the Mail, which initially reported the Waltz casting scoop, now suggests the Austrian actor is set to play Blofeld for the first time on the big screen in more than three decades.

The Bond movies have been free to incorporate classic elements of the 007 mythos such as Blofeld and nefarious organisation Spectre once again after a long-running legal case with the estate of Blofeld co-creator Kevin McClory was settled in November last year. McClory’s family sold its remaining stake in 007 to Danjaq, maker of the Bond films via its better known subsidiary Eon, and distributor MGM.

The move allowed for rights to characters introduced in 1965’s Thunderball, a collaboration between Ian Fleming and McClory, to be used in future instalments.Ernst Stavro Blofeld is perhaps the best known, and certainly the most ubiquitous Bond villain, variously portrayed on the big screen by Donald Pleasance, Charles Gray, Telly Savalas and Max Von Sydow, as well as inspiring the character of Dr Evil in Mike Myers’ Austin Powers films. He was last seen on the big screen being dropped down a chimney by Roger Moore’s Bond in 1981’s For Your Eyes Only.

The Mail suggests Waltz will be introduced via subterfuge as a character called Franz Oberhauser, “son of the late Hans Oberhauser, a ski instructor who acted as a father figure to Bond”. However, he will later be revealed as Blofeld.

Ralph Fiennes, Ben Whishaw and Naomie Harris are due to return as the new M, Q and Moneypenny respectively in Bond 24. There have also been reports that Lea Seydoux, the French star of Cannes smash Blue Is the Warmest Colour, has been added to the cast. Rory Kinnear will reprise his role as MI6 chief of staff Bill Tanner from Skyfall and Quantum of Solace.