The 72-year-old movie legend was speaking at An Evening with Michael Douglas in London, where he was asked about various aspects of his life by host Jonathan Ross.

One question was about the shooting of 1996 movie The Ghost and the Darkness with Val, which was when Michael volunteered the information about his friend's health struggles.

"The picture didn’t turn out as well as I hoped but I had a wonderful time," Michael told the audience, according to Britain's The Sun newspaper. "Val was a wonderful guy who is dealing with exactly what I had, and things don’t look too good for him.

"My prayers are with him. That’s why you haven’t heard too much from Val lately."

Michael didn't go into further details about Val's condition, but he himself suffered from tongue cancer, after originally revealing he had been diagnosed with throat cancer.

The Wall Street actor later explained he had been advised not to reveal the tongue cancer diagnosis because that strain of the disease could result in facial disfigurement, and he was about to embark on a press tour.

Michael's suggestion that Val is battling cancer comes after the actor previously denied he has the disease, after he was seen with a tracheostomy tube - a breathing tube inserted into the throat - last October (15).

"Thank you all for your love and support. There's a rumour I'm unwell again and in hospital which is totally untrue," he wrote on Facebook at the time - the third occasion he has denied having cancer. "I was in to verify I have no tumour or infection of any kind which was verified by the very caring experts at UCLA."

A representative for Val had yet to comment on Michael's revelation as WENN went to press.