Taylor Lautner, 17, is set to become the highest-paid teen actor of his generation.
The star of "The Twilight Saga: New Moon" reportedly will earn $7.5 million for co-starring in "Northern Lights" with Tom Cruise.
"New Moon" earned $288 million domestically in just seven weeks in theaters, largely on the basis of its comely young stars, including the frequently shirtless Lautner.
"Northern Lights," due to start filming in April, is about a young aerobatics pilot who faces off with his controlling billionaire father and falls in love with a female pilot.
"Northern Lights" is produced by David Ellison's Skydance Productions, which has a first-look deal with Paramount Pictures.
Lautner previously was announced as the star of Paramount's "Max Steel," based on the Mattel toy line and comic book.
Lautner also has the Garry Marshall-directed romantic comedy "Valentine's Day" coming out Feb. 12 from New Line.
Though well-paid, Lautner won't be the highest paid teen of all time. Daniel Radcliffe earned $11 million for 2005's "Harry Potter and the Goblet of Fire," when he was 16, while Macaulay Culkin made $8 million for 1994's "Richie Rich" at the age of 14.