"Expect a major Hollywood production," the publication said quoting the source.
Although the details about the event are kept secret, the Olympic flag would be transferred from Paris Mayor Anne Hidalgo to L.A. Mayor Karen Bass.
Hollywood website TMZ was the first to report Cruise's involvement in the closing ceremony and claimed that the actor, known for his dare devil approach to action, is planning an "epic stunt" for the Olympics as well.
The plan, the website said, involved the actor "rappelling down from the top of Stade de France ... landing on the stadium field and carrying the official Olympic flag".
Paris was a major setting in Cruise's 2018 "Mission Impossible: Fallout".
The 2028 Summer Olympics will run from July 14-30 in Los Angeles, which also hosted the Games in 1932 and 1984.
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