Launching in October in both standard and high definition, Sky Movies 007 will make use of Sky's recent deal with MGM to show the entire collection of James Bond movies.
In April, the satellite broadcaster secured rights to all 22 official Bond titles from EON Productions, from Dr No in 1962 to the last Bond film, Quantum of Solace, starring Daniel Craig.
It had poached the rights from ITV, and the deal included to two non-EON produced titles - the 1967 Casino Royale spoof Bond film and Never Say Never Again.
Sky initially indicated that the films would be shown on Sky Movies Showcase, but it has now decided to create a new channel dedicated to the iconic British spy.
All 22 Bond films will be shown on Sky Movies 007, in SD and HD, and without any adverts. This mirrors Sky's recent strategy with Sky Sports F1, the firm's first channel dedicated to just one sport that followed a blockbuster rights deal to Formula One.
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Sky Movies customers will also be able to access the Bond movies on-demand via the Sky Anytime+ service, along with on the Sky Go multiplatform service and NOW TV, Sky's brand new internet-delivered TV platform.
Ian Lewis, the director of Sky Movies, said: "The Bond movies are a very special franchise and we want to ensure that our customers will be able to experience it in a way they've never been able to before, and so we're going to create a dedicated channel Sky Movies 007 HD devoted entirely to James Bond showing the entire catalogue of films and loads of extra material.
"We're delighted that our customers will have the best Bond movie-watching experience ever with Sky Movies - uninterrupted, in HD, on demand and on the go."
Sky Movies 007 will launch on October 5, timed to coincide with the 50th anniversary celebrations of the release of the first Bond movie, Dr No, on the same day in October 1962.
The 23rd film in the franchise, Skyfall, will be available to rent through the Sky Store and shown on Sky Movies in 2013. Watch the trailer below: