Robert Downey Jr has been named Hollywood's highest paid star by Forbes magazine.

The Iron Man star has topped Forbes' annual ranking of the top paid movie stars for the second year running.

He has earned an estimated $75 million for the year 2012 and 2013.

Coming in second place is Dwayne 'The Rock' Johnson with earnings of $52 million, while third place went to The Hangover star Bradley Cooper with estimated earnings of $46 million.

Fourth and fifth places went to Leonardo DiCaprio ($39 million) and Chris Hemsworth ($37 million) respectively.

Taken star Liam Neeson took the sixth place in the list with estimated earnings of $36 million.

The Forbes top 10 list of highest paid actors 2014:

1. Robert Downey Jr - $75 million

2. Dwayne Johnson - $52 million

3. Bradley Cooper - $46 million

4. Leonardo DiCaprio - $39 million

5. Chris Hemsworth - $37 million

6. Liam Neeson - $36 million

7. Ben Affleck - $35 million

8. Christian Bale - $35 million

9. Will Smith - $32 million

10. Mark Wahlberg - $32 million