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He knows that his relationship with Catherine Zeta-Jones, the voluptuous star of The Mask of Zorro and Entrapment, makes him the envy of countless men around the world.
"She's beautiful isn't she?," a grinning Douglas said in an interview here yesterday. "Absolutely beautiful.
"But there's much, much more to her than that stunning beauty. She's intelligent and witty and talented. I could go on for hours, but that's another interview."
Douglas was in Los Angeles to promote his new film, Wonder Boys, which opens Feb. 25. The details about this tragi-comedy were quickly overshadowed by the news that Zeta-Jones is pregnant.
"It's absolutely fabulous because this time around, I won't have to deal with the problems of balancing my career and my family," he says. "I can spend all the time I need and want with my kid this time around."
Douglas has a 20-year-old son named Cameron from his first marriage to Diandra Douglas.
Douglas recalls when he met Zeta-Jones at the Deauville Film Festival in France two years ago.
"I was there promoting my film, The Perfect Murder," he explains. "I had seen Zorro in America a couple of weeks earlier and was completely wowed by this incredibly beautiful actress I'd never seen before. The last time any actress had done that to me on screen was Julie Christie."
To Douglas' supreme joy, he discovered the Mask of Zorro was premiering at the film festival the night after The Perfect Murder. "I asked my agents to find out if Catherine was going to be coming to promote the film, if she was coming alone and if she would have dinner with me."
The news was great. Zeta-Jones was already in town and it seemed she was free for dinner, though his agent had not actually made the date.
"I went to the cocktail reception and asked her myself," says Douglas, 55.
"She agreed and it was instant attraction for both of us." Douglas recalls he was amazed to discover that he and Zeta-Jones, despite their 25-year age difference, had a great deal in common.
They share the same Sept. 25 birthday, but that's not what brought tears of joy to his eyes. He was overwhelmed to discover that Zeta-Jones is an avid golfer.
"That meant that wooing her would not interrupt my golf game."
Douglas refused to divulge his wedding plans or the expected due date of his child.
"I have to save something for my website, or there'll be no reason for people to subscribe to it." Douglas' website, www.michaeldouglas.com, debuts online Tuesday with a $39 subscription fee.
He promises there will be news about the wedding and the pregnancy.
Douglas insists this is a non-profit website and that all profits will go to his foundation and the causes it supports.
Tomorrow, Douglas will participate in an online chat with the 35,000 people who have already signed up.