Armendáriz appeared in the James Bond film, Licence to Kill as President Hector Lopez. His father Pedro Armendariz Sr. had been in the earlier James Bond film From Russia With Love. He also appeared in: Amistad (1997), The Mask of Zorro (1998), The Mexican (2001), Original Sin (2001), In the Time of the Butterflies (2001), Once Upon a Time in Mexico (2003), And Starring Pancho Villa as Himself (2003), The Legend of Zorro (2005), and Freelancers (2012).
In November 2011, Armendáriz was diagnosed with eye cancer. He died of the disease on December 26, 2011, at age 71, at Memorial Sloan Kettering Cancer Center in New York City. His remains were buried at Panteón Jardín in Mexico City.