The 50-year-old is officially set for fifth instalment of the action franchise after inking a deal with Paramount Pictures and Skydance Productions, reported Deadline.
Cruise could re-team with Christopher McQuarrie - who directed him in last year's 'Jack Reacher' - on the project.
The new film would follow 2011's hit blockbuster 'Mission: Impossible - Ghost Protocol' which was well received by critics and earned nearly USD 700 million worldwide.
That film was directed by Brad Bird and saw 'Avengers' star Jeremy Renner join the franchise while Simon Pegg reprised his role as technician Benji Dunn.
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