The 49-year-old French-Canadian director said he is "busy" with his next project, the "Dune" remake.
"The thing is I don't now about that, but listen. Daniel Craig is a very inspiring actor and I had some contact and the thing is that I'm busy right now doing 'Dune'.
"But, I will say to have the privilege to work with him it would be a dream. I would love to work with Daniel and a Bond movie for me would be a treat. It's a matter of timing, I guess," Villeneuve told The Playlist.