After two taxing months, a rep tells E! News the Oscar winner will finish his final chemotherapy session today and his prognosis looks good.
"He has his last treatment today, and they certainly haven't scheduled any more," says Douglas' friend and publicist Allen Burry.
Douglas, 66, announced in August that he was about to undergo a regimen of chemotherapy after being diagnosed with the disease.
Burry tells E! News the thesp will spend the next six weeks recuperating from the treatment and that he has high hopes for recovery.
"He's doing really well," said Burry. "I'm not quite sure what all of it means, but it sounds good to me."
Doctors have given Douglas an 80 percent chance of survival and are said to be satisfied with progress in killing the stage-four tumor that was discovered earlier this summer.
Burry says he doesn't know when they will find out whether the treatments cleared the cancer or if the star will need to undergo surgery, but he noted Douglas' doctor has a positive outlook.
"I don't know how long it takes to analyze the results, but the doctor's prognosis has always been very high," adds Burry.
The veteran actor was out and about on Tuesday in New York City, taking his 7-year-old daughter, Carys Zeta Douglas, to school.
Wife Catherine Zeta-Jones recently addressed her husband's ailment, telling reporters, "He's holding up very, very well and everyone could not be happier with the progress...He's doing fine thanks."
Despite his ailment, Douglas still managed to hit the red carpet last month for the New York premiere of Wall Street 2: Money Never Sleeps.