In his first interview since undergoing chemotherapy and radiotherapy treatment, the 66-year-old actor said that his tumour is gone and he is confident he has beaten cancer.
'The odds are, with the tumour gone and what I know about this particular type of cancer, that I've got it beat ' Douglas said.
Doctors have warned the Wall Street star that he should not be too quick to dismiss concerns that the cancer could return.
But while he still has to undergo monthly checks, Douglas and wife Catherine Zeta Jones are 'absolutely delighted' at the news.
The Oscar-winning actor, who was given just a 50-/50 chance of surviving the stage four cancer when it was first diagnosed four months ago, is already looking forward to making the most of the rest of his life.
'It's put a timeline on my life. I'm 66 now. You know, I'm fortunate I've got a mother who's 88. She'll kill me. She may be 87. My father's 94. So, you know, I feel good about those genes,' he said.
'But it's definitely a third act. And so you're a little more conscious of your time in how you choose to spend it,' he added.
Douglas had been on tenterhooks waiting to see the results after completing his cancer treatment before Christmas.
But last month, doctors told him his chances of a full recovery had increased to 80 percent and he was spotted taking his 42-year-old wife and two young children, Dylan, ten, and seven-year-old Cary on trips to Disney World. Rumors are that he's ready to tackle the Liberace project next this spring.
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