Directed by Daniel Kleinman, the video weaves black and white footage of Eilish singing with scenes taken from the film.
The fast-cutting footage focuses on the romance between Bond and Madeleine Swann, played by Lea Seydoux, who he is rumoured to marry in the film.
However, the mood is melancholic as a tearful Swann is seen carried away on a train.
The music video ends with flumes of smoke erupting from behind Eilish before fading to black.
Writing on Instagram, Eilish said: “We shot this in February and it’s finally out. Love bond and still so honored to be a part of it, thank you @007.”
The song came out in February ahead of the film’s expected April release date.
However, No Time To Die became one of the first major Hollywood productions to be delayed due to the coronavirus pandemic.
The film, Daniel Craig’s 007 swansong, is now set to hit cinemas in November.
Eilish, who swept the big four prizes at the Grammy Awards in January, is the youngest artist to record a Bond theme.
No Time To Die, which also stars Rami Malek as villain Safin and Ana de Armas as CIA agent Paloma, will deliver a satisfying ending for Craig’s Bond, according to producer Barbara Broccoli.
Speaking on the first episode of the official James Bond podcast, she said: “It’s a culmination of everything that his portrayal of the character has been through and it ties up all the storylines. It’s a pretty epic film, I have to say.”
No Time To Die is due to be released in Irish and UK cinemas on November 12th.