The prolific actor's two children are ready for stardom.
Michael Douglas' kids plan to follow in his footsteps!
In a new interview with Variety, the Ant-Man actor reveals that his two children -- Dylan, 15, and Carys, 12 -- with wife Catherine Zeta-Jones are looking to get into acting.
WATCH: Catherine Zeta-Jones & Michael Douglas' Kids Are All Grown Up
"My son and my daughter both want to be in the business. They both want to act and I've told them to be ready for rejection," he said. "That's the one part I always warn everybody starting out in the business. You have to be able to take a hit and keep on going no matter what."
"It's hard, but you have to deal with it because it's going to happen," he continued. "I experienced lots of rejection in my career and it's never easy. You have to keep on going and someone will say yes."
The 71-year-old star also got candid about his battle with tongue cancer, which he announced five years ago. In the interview, Douglas, who has been cancer-free since January 2011, gave special thanks to his 46-year-old wife for her constant love and support.
WATCH: Michael Douglas Isn't Ready to Tell Wife Catherine He's Growing Back His Beard
"Well it's good to be alive," Douglas said. "You never anticipate that. That was a workout. It was one of those situations where I was aware of something being wrong and had two or three misdiagnoses and spent a year before I went in and found out it was stage 4 cancer."
"Once you come out of that end, you have a resurgence of energy and you take advantage of what you want to do with your life," he added. "You have to be conscious about how many years you have and anything beyond that is gravy. I am extremely fortunate."
Last month, ET spoke with the Oscar-winning actor just ahead of his 15-year wedding anniversary with Zeta-Jones.
WATCH: Michael Douglas Talks Life After Cancer
"We're going to go see a Broadway show, have a little dinner," Douglas said about his date-night plans. "Just the two of us."
ET also caught up with the star in July, where he opened up about beating stage 4 cancer.
"I look at this generally as my third act," he said. "I am also happy. I am cancer-free now, so you have a new appreciation and I think the combination of Behind the Candelabra and Liberace and now Ant-Man sort of opens my resume and my range of parts to play."
Watch the video below to hear the full interview.