Taylor Lautner is poised to become the highest-paid teen in Hollywood.

Everything you've ever wanted to know about Taylor

Lautner, 17, will reportedly star in the upcoming action flick "Northern Lights." The film, scheduled for a 2012 release, tells the story of "a gifted, young, aerobatics pilot who faces off with his controlling, billionaire father and falls in love with a gifted, female pilot," according to Deadline.com.

According to the buzz, Taylor will make $7.5 million for the movie, making him the highest-paid teenage actor in Hollywood.

Grrr! See Taylor show off his six-pack

This past summer, Lautner wrapped shooting on "Eclipse," the third installment in the "Twilight" franchise.