The 77-year-old Ladies in Lavender actress will play an ageing Alice of the Alice in Wonderland series in a new production from Skyfall co-writer John Logan.
The Tony Award-winning Logan discussed his plans for the play with Dench during takes for the latest James Bond project, says The Daily Telegraph.
Ben Whishaw - who will also star in Skyfall as Q - will also feature in the play.
Michael Grandage will direct the play, which is described as "boldly original".
The production will centre upon an elderly Alice who looks back at her adventurous life. It is expected to be later transferred to Broadway in the US.
Judi Dench is currently battling macular degeneration, causing her eyesight to diminish. However, she recently insisted that she was not going blind.
Skyfall arrives in cinemas on October 26 in the UK and November 9 in the US.
> Skyfall trailer to debut next month