Movie superstar Tom Cruise has become the highest-earning actor in Hollywood history in a deal that could earn him a staggering $360m (€297.7m) for his role in The War of the Worlds.

Rather than agree a set fee for his part in the Steven Spielberg-directed epic, Cruise will earn 10 per cent of the film's box office takings plus a share of profits from DVDs, video games and toys.

Experts predict the film - based on HG Wells' classic novel about a Martian attack - could make $1.8bn (€1.5bn) at the cinema alone, of which Cruise's share would be an incredible $180m (€148.9m).

And, if he stars in the two planned sequels, Cruise's earnings will double at least.

A Hollywood source says: "No expense will be spared. Spielberg wants to make it the film of the decade - the one that everyone talks about and rushes to see."