In February 2003, Spacey announced that he was returning to London to become the artistic director of the Old Vic, one of the city's oldest theatres.
Appearing at a press conference with Judi Dench and Elton John, Spacey promised both to appear on stage and to bring in big-name talent.
He undertook to remain in the post for a full ten years.
The Old Vic Theatre Company staged shows eight months out of the year.
Spacey's first season started in September 2004, and opened with the British premiere of the play Cloaca by Maria Goos, directed by Spacey, which opened to mixed reviews.
In the 2005 season, Spacey made his UK Shakespearean debut, to good notices, in the title role of Richard II directed by Trevor Nunn.

While serving as artistic director, Spacey was photographed with Ghislaine Maxwell sitting in the throne room of Queen Elizabeth II during a private tour of Buckingham Palace.
In 2020, Maxwell would be arrested and held without bail on child sex-trafficking charges.
Former US President Bill Clinton was also in attendance, at the invitation of Prince Andrew.
 
In mid-2006, Spacey said that he was having the time of his life working at the Old Vic; at that point in his career, he said, he was "trying to do things now that are much bigger and outside [myself]".
Spacey performed in productions of National Anthems by Dennis McIntyre, and The Philadelphia Story by Philip Barry, in which he played C.K. Dexter Haven, the Cary Grant role in the film version.
Critics applauded Spacey for taking on the management of a theatre, but noted that while his acting was impressive, his skills and judgment as a producer/manager had yet to develop.

In the 2006 season, Spacey suffered a major setback with a production of Arthur Miller's Resurrection Blues, directed by Robert Altman.
Despite an all-star cast (including Matthew Modine and future House of Cards co-star Neve Campbell) and the pedigree of Miller's script, Spacey's decision to lure Altman to the stage proved disastrous: after a fraught rehearsal period, the play opened to a critical panning, and closed after only a few weeks.
Later in the year, Spacey starred in Eugene O'Neill's A Moon for the Misbegotten, along with Colm Meaney and Eve Best.
The play received excellent reviews for Spacey and Best, and was transferred to Broadway in 2007.
For the spring part of the 2007–08 season, Jeff Goldblum and Laura Michelle Kelly joined Spacey as the three characters in David Mamet's 1988 play Speed-the-Plow.

In 2009, he directed the premiere of Joe Sutton's Complicit, with Richard Dreyfuss, David Suchet and Elizabeth McGovern.
Later that year, Trevor Nunn directed Spacey in a revival of Inherit the Wind.
Spacey played defense lawyer Henry Drummond, a role that was made famous by Spencer Tracy in the 1960 film of the same name.
Sam Mendes directed Spacey in Shakespeare's Richard III; Spacey played the title role.
The show began in June 2011, commencing a worldwide tour culminating in New York in early 2012.
In March 2014, it was announced that Spacey would star in a one-man play at the Old Vic to celebrate his ten years as artistic director.
He took on the part of Clarence Darrow in the play.
In February 2003, Spacey announced that he was returning to London to become the artistic director of the Old Vic, one of the city's oldest theatres. Appearing at a press conference with Judi Dench and Elton John, Spacey promised both to appear on stage and to bring in big-name talent. He undertook to remain in the post for a full ten years. The Old Vic Theatre Company staged shows eight months out of the year. Spacey's first season started in September 2004, and opened with the British premiere of the play Cloaca by Maria Goos, directed by Spacey, which opened to mixed reviews. In the 2005 season, Spacey made his UK Shakespearean debut, to good notices, in the title role of Richard II directed by Trevor Nunn.
While serving as artistic director, Spacey was photographed with Ghislaine Maxwell sitting in the throne room of Queen Elizabeth II during a private tour of Buckingham Palace. In 2020, Maxwell would be arrested and held without bail on child sex-trafficking charges. Former US President Bill Clinton was also in attendance, at the invitation of Prince Andrew.  
In mid-2006, Spacey said that he was having the time of his life working at the Old Vic; at that point in his career, he said, he was "trying to do things now that are much bigger and outside [myself]". Spacey performed in productions of National Anthems by Dennis McIntyre, and The Philadelphia Story by Philip Barry, in which he played C.K. Dexter Haven, the Cary Grant role in the film version. Critics applauded Spacey for taking on the management of a theatre, but noted that while his acting was impressive, his skills and judgment as a producer/manager had yet to develop.
In the 2006 season, Spacey suffered a major setback with a production of Arthur Miller's Resurrection Blues, directed by Robert Altman. Despite an all-star cast (including Matthew Modine and future House of Cards co-star Neve Campbell) and the pedigree of Miller's script, Spacey's decision to lure Altman to the stage proved disastrous: after a fraught rehearsal period, the play opened to a critical panning, and closed after only a few weeks. Later in the year, Spacey starred in Eugene O'Neill's A Moon for the Misbegotten, along with Colm Meaney and Eve Best. The play received excellent reviews for Spacey and Best, and was transferred to Broadway in 2007. For the spring part of the 2007–08 season, Jeff Goldblum and Laura Michelle Kelly joined Spacey as the three characters in David Mamet's 1988 play Speed-the-Plow.
In 2009, he directed the premiere of Joe Sutton's Complicit, with Richard Dreyfuss, David Suchet and Elizabeth McGovern. Later that year, Trevor Nunn directed Spacey in a revival of Inherit the Wind. Spacey played defense lawyer Henry Drummond, a role that was made famous by Spencer Tracy in the 1960 film of the same name. Sam Mendes directed Spacey in Shakespeare's Richard III; Spacey played the title role. The show began in June 2011, commencing a worldwide tour culminating in New York in early 2012. In March 2014, it was announced that Spacey would star in a one-man play at the Old Vic to celebrate his ten years as artistic director. He took on the part of Clarence Darrow in the play.
Kevin Spacey