Brad Pitt reportedly will star in the next "Mission: Impossible" film.(AP)

Actor Brad Pitt is being tipped to take over from Tom Cruise in the 'Mission: Impossible' film franchise.

Paramount Pictures are apparently planning on continuing the action movie spy series by getting another big star on board.

Pitt is currently top of their wish list and it is reported that a record pay cheque of nearly $40 million could be his if he says yes.

The British Daily Mail reports that an insider told London Lite: "MI:IV will not include Cruise's character, agent Ethan Hunt.

"They are considering a brief mention, saying Hunt retired to live a safe life with his new wife."

Cruise and Paramount ended their 14-year relationship last month, with chairman Sumner Redstone blaming Cruise's controversial behaviour for the split.

"It's nothing to do with his acting ability, he's a terrific actor," Redstone told the Wall Street Journal.