Australian actress Cate Blanchett has the world at her feet: she stars as Queen Elizabeth once more in “Elizabeth: The Golden Age,” she plays the legendary Bob Dylan in the feature film “I'm Not There” and she is set to commence her career as artistic co-director of the Sydney Theatre Company.

It looks like acclaimed actress Cate Blanchett has her fingers in several puddings and she is enjoying it and doing it well.

“Elizabeth: The Golden Age,” directed by Shekhar Kapur, opens nationwide Friday, Oct. 12. It is the film sequel to 1998’s Academy Award-winning period film “Elizabeth,” and sees Blanchett reprise her role as Elizabeth I.

Critics are already betting on an Academy Award nomination for the chameleonic Blanchett, this time for best actress, as opposed to her 2007 nom for supporting actress in ‘Notes on a Scandal.”

“Elizabeth: The Golden Age” has a golden cast of its own, alongside Blanchett: Geoffrey Rush, Clive Owen, Samantha Morton and Rhys Ifans. Its screenplay was written by William Nicholson and Michael Hirst, with Tim Bevan, Eric Fellner and Jonathan Cavendish producing. The film’s executive producers are Debra Hayward, Liza Chasin and Michael Hirst.

1998’s “Elizabeth” received several Academy Award nominations, including best actress for Blanchett and best picture. It won best makeup (Jenny Shircore). The Aussie star however won a BAFTA award for best actress as well as a Golden Globe.

Cate Blanchett won her first Oscar in 2005, for supporting actress in Martin Scorsese’s “The Aviator” and critics are certain that she is to receive (at least) another.

Her interpretation of Bob Dylan as a young man in “I’m Not There,” a biographical film directed by Todd Haynes and scheduled for a November release, is sure to win her further widespread acclaim.

Blanchett was honored with the best actress award at the Venice Film Festival in September for her portrayal of the legendary rocker in “I’m Not There.” She stars alongside Christian Bale, Charlotte Gainsbourg, Richard Gere, Heath Ledger and Julianne Moore.

The 38-year-old’s resume does not end here. As of 2008, she and her Australian playwright husband, Andrew Upton, will become artistic co-directors at the Sydney Theatre Company. The couple, married for a decade now and parents to two young boys, has signed a three-year contract.

Come spring 2008, moviegoers will have the pleasure of enjoying the Australian actress in her mysterious role in “Indiana Jones and the Kingdom of the Crystal Skull.” There have been rumors that she plays a villain.