Tom Cruise has finalized a deal to star in and produce Mission: Impossible 5 for Paramount Pictures and Skydance Productions. The actor will reprise his role as Ethan Hunt from Mission: Impossible (1996), Mission: Impossible 2 (2000), Mission: Impossible III (2006), and Mission: Impossible Ghost Protocol (2011).

Christopher McQuarrie has been mentioned to direct this fifth installment in the action franchise, but no deal has been finalized yet. We reported in November that Tom Cruise hoped to reunite with Christopher McQuarrie on this project, after working together on last year's Jack Reacher. Christopher McQuarrie wrote the script for Tom Cruise's 2008 World War II drama Valkyrie, and the writer-director also provided uncredited screenplay polishes on All You Need Is Kill and Mission: Impossible Ghost Protocol.

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Paramount will co-finance the project with David Ellison's Skydance Productions. Mission: Impossible Ghost Protocol was produced on a $145 million budget, and it went on to make nearly $700 million worldwide.