Michael Douglas has been diagnosed with a tumour in his throat.

The 'Wall Street: Money Never Sleeps' actor will undergo eight weeks of radiation and chemotherapy for the affliction and doctors expect him to make a full recovery.

The 65-year-old star said in a statement to People magazine: "I am very optimistic."

A spokesperson for the actor would not confirm what type of cancer the star is suffering with, when it was discovered or when treatment is expected to begin.

Michael is now said to be spending as much time as possible with his wife, Catherine Zeta Jones, and their two children Dylan, 10 and Carys, seven.

If caught early, throat tumours are cured in ninety percent of cases. Chemotherapy treatment is, however, often used in conjunction with radiation for more advanced throat cancers.

It was reported in 2006 that Michael and Catherine were both smokers - who are more susceptible to contracting throat cancer - but were both trying to give up the habit at that time.

The tumour comes as the latest blow in what has been a tough year for Michael, after his son from a previous marriage, Cameron Douglas, 31, was jailed for five years in April for drugs offences.

Michael said in June: "I've had a rough year on the personal front."