The Mission Impossible star's five-year marriage to Katie Holmes officially ended on Monday after the actress filed for divorce in June, citing "irreconcilable differences".
Details of the pair's out of court settlement now appear to have been leaked.
According to the celebrity website TMZ, Cruise will make child-support payments over the next 12 years that add up to $4.8m, or over $33,000 a month.
Cruise also agreed to pay six-year-old Suri's medical, education and extracurricular expenses, it is claimed.
But TMZ said the "TomKat" pre-nuptial agreement blocked Holmes from receiving any portion of the 50-year-old actor's $250m fortune.
Lawyers for the pair have declined to comment on the report.
Holmes, 33, surprised Cruise in June when she filed for divorce. Cruise was in Iceland shooting a movie at the time.
It is thought that Suri will be mostly based with Holmes in Manhattan, New York, with visits by Cruise.
