When asked last year which person he would most like to see "go Gangnam Style", Psy named the "Mission Impossible" star as his first choice.
Cruise, who was in Seoul to promote his new film, hailed Psy as "quite a sensation" but declined to follow the likes of UN secretary general Ban Ki-moon in imitating the singer's dance moves.
"He does it better than me," Cruise told reporters during a press conference to promote his movie "Jack Reacher" which will be released in South Korea next week.
"I'm very happy for his success. Everyone has really enjoyed it," Cruise added.
Psy made Internet history shortly before Christmas when his "Gangnam Style" video clocked more than one billion views on YouTube.
Cruise was one of many celebrities around the world who took to social networks last year to promote Psy's video as it became a viral sensation.
"Think @Psy_oppa would make a good future co-star Gangnam Style?" the Hollywood star tweeted last September.
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He's a loser