The 48-year-old star is said to be in talks about a part in the new film, which is being made by Paramount Pictures as well as David Ellison's Skydance Productions.
According to Variety, the movie is being directed by Christopher McQuarrie from a script that he also wrote.
The film is based on a series of books by author Lee Child and the story follows the former military policeman turned drifter Jack Reacher.
In the new movie, Reacher is investigating a case where a sniper is being accused of murdering five people before he is caught.
It's claimed Cruise will also produce the flick along with Ellison, Don Granger, Paula Wagner, Dana Goldberg and Gary Levinsohn through Mutual Film Company and Cruise/Wagner Productions.