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Tom Cruise, Mission Impossible Ghost Protocol

Paramount Pictures

Tom Cruise is ready to take on another impossible mission!

Cruise has signed a deal with Paramount Pictures to return for a fifth installment of his Mission: Impossible franchise, his rep confirms to E! News.

The 50-year-old Oblivion star would star and produce the upcoming flick.

Who will write and direct the film, as well as when it would be released, is still undecided, although Cruise's Jack Reacher director Christopher McQuarrie is reported to be a front-runner.

Cruise returned for 2011's fourth M:I movie Ghost Protocol alongside new castmembers Jeremy Renner and Paula Patton. The flick was a box office hit.