Tom Hanks has become a grandfather for the first time.

The 54-year-old actor's eldest son Colin - known for his role as Jack Bailey in TV series 'The Good Guys' - and his wife of nine months Samantha Bryant welcomed their first child, a daughter named Olivia Jane, into the world on Tuesday (01.02.11).

A source close to the 33-year-old actor told People magazine: "The family is home and everyone's happy and healthy."

Colin - whose mother Susan Lewes, Tom's first wife, died of cancer in 2002 - and former publicist Samantha's new arrival could give 'Toy Story 3' star Tom the perfect excuse to dig out his most treasured toys, as he recently admitted he still loves playing with his kids' miniature cars and planes.

Tom said: "I play with toys all the time. I play with the little goofy things my kids still have like cars and planes and I hold them up and imagine the same stories I did when I was a kid.

"My own toys weren't collectibles - they went through hard use so any toy I had was eventually pounded out of existence or they broke. They went the best way any toys can - they were played with out of existence."