The 66-year-old said he has not hidden the illness from 10-year-old Dylan and seven-year-old Carys, his children to current wife Catherine Zeta-Jones.
He told UK newspaper The Guardian: "I've taken the kids down to the hospital and shown them the whole radiology thing, so they understand it. They've watched me actually get zapped.
"But there's not a lot anyone can really do. Cancer is a whole world on its own. You just have to do the programme."
Michael added that he is now happy to take a step back and look after his kids while Catherine goes out to work.
He said: "I'm not driven like I once was - these days I am consumed with being a father and with my responsibilities as a husband. I never anticipated starting a family at my age.
"I'm genuinely happy to let Catherine work, while I stay at home with the children. I cherish this time."