Christopher McQuarrie will direct 'Mission: Impossible 5'.

Tom Cruise will reprise his role as IMF Agent Ethan Hunt and is ''thrilled'' to be collaborating with Chris, who he previously worked with on 2012's thriller 'Jack Reacher' and 2009's 'Valkyrie.'

Tom - who has produced all the films in the 'Mission Impossible' franchise - explained in a statement: ''I am thrilled to reunite with Chris for the latest installment in the 'Mission' series.

''I began producing the films with the goal that a different director with his own vision would make each one.

''Chris is an extraordinary filmmaker who will deliver the heart-pounding action and thrills that audiences around the world have come to expect from the 'Mission: Impossible' franchise.''

Other big names who have directed films in the action sequel include Brad Bird, J.J. Abrams, John Woo and Brian De Palma.

Adam Goodman, president of Paramount Film Group, is hoping Chris will keep the 'Mission: Impossible' ''tradition'' alive for the directors who have come before him.

Adam said: ''The 'Mission' series is special for its signature directors; Chris McQuarrie keeps this tradition thriving.''

The most recent film, 2011's 'Mission: Impossible - Ghost Protocol' grossed almost $700 million worldwide.