Will Smith is up and Tom Cruise is down in the latest ranking of Hollywood's most bankable actors.

Smith tops the list, scoring 96 out of a possible 100 points. Smith, whose last three movies -- Seven Pounds, Han**** and I Am Legend -- have averaged $459 US million in worldwide box office, was 12th in the previous rankings.

Cruise fell from the top 10 for the first time in more than a decade, placing 11th with 80 points. His most recent movie, the Nazi drama Valkyrie, grossed $200 million US worldwide.

Following Smith in the rankings are Johnny Depp, Brad Pitt, Tom Hanks, George Clooney, Will Ferrell, Reese Witherspoon, Nicolas Cage, Leonardo DiCaprio and Russell Crowe.

The list is compiled by author James Ulmer, whose book Actors Hot List ranks the box-office clout of 1,400 actors. The rankings are based on a survey of more than 100 movie buyers and sellers. A former editor and columnist for the Hollywood Reporter, Ulmer resumed publication of his annual list this year after taking a year off.

Mel Gibson, whose public image took a beating when he made anti-Semitic remarks to a police officer who arrested him for drunken driving, fell to 62nd after ranking 11th on the previous list. Jim Carrey, Keanu Reeves and Julia Roberts also dropped.

For more than a decade, the salaries for screen stars have risen along with production budgets, with actors like Smith and Cruise getting as much as $20 million a picture. Even though ticket sales have increased this year, the recession, dwindling DVD sales and uncertainty about the impact of the Internet have made studios more circumspect about spending.

"Actors were bid up like the derivatives market," Ulmer said in an interview. "Now there is a certain amount of wariness of the production entity to pay these fees. The upper echelon is shrinking."

Colour Photo: Getty Images / Will Smith is the biggest movie star in the world.