The 51-year-old actor is gearing up for the fifth installment of the action franchise where he will reprise the role of Ethan Hunt and the A-Lister will be landing at the largest of the Canary Islands before shooting scenes at landmarks in England's capital, according to The Sun newspaper.
A source said: "A few items are set to be filmed around London, including a motorbike chase down The Mall, followed by a boat chase scene along The Thames.
"They are also going to do some work around the Emirates Cable Cars."
Meanwhile, Jessica Chastain has been linked to the film and she is set to be Cruise's "right hand woman", reports Schmoesknow.com.
If her role is confirmed she'll star alongside Simon Pegg who will return to the big screen as Benji, and Jeremy Renner is reported to play William Brandt.
Christopher McQuarrie will direct the film, while Iron Man 3's Drew Pearce will pen the script and J.J. Abrams and Cruise will produce.