One of the highest paid actors in Hollywood is getting ready to commit to some almost guaranteed blockbusters ... in other words Will Smith is signing on for a couple sequels.

According to the NY Post, the actor has nearly completed deals to return in starring roles for another installment of "Hancock" and "I Am Legend."

"He is ready to do both," a Hollywood insider the paper. "Producers are just trying to get Charlize Theron to sign on for the 'Hancock' sequel."

If you saw "I Am Legend," Smith's character Robert Neville dies at the end, so a sequel with the big-time actor wouldn't make sense. So, part two will be more of a prequel to the impending disaster.

"It will be about how the disease spreads and the fall of the last great American city. It will also develop the relationship between Will's character and his wife," the source said.

There is no official word from the Smith camp, but a rep for the actor claims "there have been talks about both of these projects."

Both films were huge successes for the actor. "Hancock" grossed $107.3 mil during its first five-and-a-half days of release, while "I Am Legend" made a $77.2 million box office debut.

This week, Smith's new flick "Seven Pounds" hits theaters, in which Smith plays a depressed IRS agent who goes on a mission to help out seven strangers. It hits theaters on Friday (December 19).