Dame Helen won an Academy award for her role in The Queen in 2006
She won an Oscar as the Queen, but Dame Helen Mirren's next film will see her play a Mossad agent who covers up the re-emergence of a Nazi war criminal.
The 63-year-old has signed up for the lead role in The Debt - a remake of Israeli thriller Ha-hov - according to film trade paper Variety.
John Madden, who previously worked with Dame Helen on TV series Prime Suspect, has been named as the director.
"Helen Mirren is the perfect choice for the central role," he said.
The actress's character, Rachel Singer, is a secret agent who lies about killing a Nazi war criminal in the 1960s.
She is forced to return to work when her alleged victim reappears three decades later.
Madden, whose previous films include Shakespeare In Love and Mrs Brown, described the character as "a formidable and dignified woman grappling with years of emotional disappointment, suddenly confronted by a powerful and unexpected choice".
The script is being written by Matthew Vaughn and Jonathan Ross's wife, Jane Goldman, who were responsible for the acclaimed fantasy movie Stardust.
Filming is due to take place in the UK, Germany and Israel next year.