Users can visit the 'Devil May Care' MySpace and enter the competition by submitting an original piece of music for the new Bond novel, written by 'Charlotte Gray' and 'Bird Song' author Sebastian Faulks.
A shortlist of five entries will be selected by a judging panel, which includes Faulks, cult music producer Jazzie B and Matthew Fleming, great nephew of original Bond author Ian Fleming. Dom Cook, director of marketing and content for MySpace UK and Alex Clarke, Penguin editor of 'Devil May Care', will also judge.
The winning track will become the book's official theme tune and will be featured on the 'Devil May Care' audio book, which will also be published on May 28, the centenary of Fleming's birth. The composer of the track will win £1,000 worth of music equipment and their song will later be available as a free digital download via Penguin and Apple's iTunes.
The competition is open to all musicians, amateur and established artists, with the deadline for entries on February 25. Once the shortlist is chosen, the final vote will be opened to the public on March 3 and the winner announced on March 17.
Cook said: "With more than 8mn artists and bands on MySpace, it's the best place to discover exciting new talent. We hope the passion and creativity that fuels our site will be reflected in the high quality of entries that Penguin receive."
The 'Devil May Care' MySpace profile will also feature downloadable wallpapers, information and news, including blog posts and videos, in the build up to the publication of the book.
Clarke said: "I hope that this is a dream brief -- create your own Bond theme tune -- it doesn't get much better than that. We're really pleased to be able to reach out to all the millions of MySpacers -- and hope that loads of people will be inspired to rise to the challenge. It's an amazing novel -- so it'll need some really good music!"
The approach of the new Bond novel comes as the title of next James Bond film was revealed. The film to follow 'Casino Royale', again starring Daniel Craig, is 'Quantum of Solace', which taken from the title of a 1960 Fleming short story.
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