The son of Will Smith and Jada Pinkett Smith starred alongside Jackie Chan in the 2010 remake of the 1984 classic and received a seven-figure sum for his efforts, states TMZ.
The website claims to have obtained Jaden's contract for the film drawn up in June 2009, which details an upfront fee totalling $1 million (£598,000) and paid in two instalments.
He is also believed to have taken home a $2m (£1.19m) bonus after The Karate Kid passed the $150m mark at the worldwide box office. The action flick eventually grossed a total exceeding $350m.
Jaden, who is now 12, recently featured on Justin Bieber's single 'Never Say Never' and appeared in the 17-year-old's documentary of the same name.
Watch Jaden Smith in action in a clip from The Karate Kid below.