Keen to prove their theory, a number of social media users pointed out that it's not the first time the 38-year-old has teased new music.
In the run-up to the launch of award-winning album Lemonade, Beyoncé posted several lemon-themed photographs to Instagram.
One Twitter user wrote, "What makes me think Beyoncé is really doing the James Bond soundtrack is that it's less than three months before the movie yet we still don’t know who are singing the songs."
Another also supports the theory, pointing out that the clock in the new Ivy Park and Adidas advertisement points to four and 10 (the date in which the film graces theatres in the US).
If there's truth behind the rumours, Beyoncé will follow in the footsteps of British artists, Sam Smith and Adele, who both scooped an Oscar for Best Song.
Though it's not the first time the singer has provided a tune for the silver screen with 'Work It Out' which featured in Austin Powers in Goldmember (2002) and 'Independent Woman' from Charlie's Angels (2000).
If the rumours are true, Beyoncé is sure to prove a rather glamorous addition to the British Secret Service.
This story originally appeared on marie claire Australia.