The Aviator star, 30, has purchased the 104 acre Blackadore Caye in the Caribbean sea, which is only a 25 minute boat ride away from the Central American country's top-class diving site of the Belize Barrier Reef.
DiCaprio will work with the team from the nearby Cayo Espanto island to develop an airstrip, infrastructure and top quality accommodation.
A friend says, "It is the perfect project for Leonardo. He wants to make money out of the island without destroying the environment.
"The energy sources will be renewable and the island will be self-sustaining as much as possible. He is drawing up plans which respect the wildlife and surrounding waters."
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