Johnny Depp hasn't ruled out a return to Disney.

A source close to the 60-year-old actor tells PEOPLE in this week's issue that Depp, who previously said he felt betrayed by the company behind the multibillion-dollar Pirates of the Caribbean franchise, would potentially come back for more films.

“Anything is possible,” the Depp insider says. “If it’s the right project, he’ll do it.”

While the source doesn't specify whether the actor would return for another Pirates film, The New York Times noted in a June 5 article that Disney was “seemingly inching the door open” to collaborating with again with Depp.

Buzz about a potential return to his role of Captain Jack Sparrow comes just over a year after Depp's contentious defamation trial against ex-wife Amber Heard. A seven-person jury reached a verdict that largely sided with Depp, though Heard, 37, won one of her three counterclaims.

Despite many fans' hopes at the time, a rep for Depp told PEOPLE in June of last year that a report claiming the actor was returning to the Pirates franchise for over $300 million was "false."

The saga's producer Jerry Bruckheimer told U.K. outlet The Times in an interview published the previous month (while Depp was still in court for his defamation trial against Heard) that his team was working on "two Pirates scripts — one with [Margot Robbie], one without."

As for Depp potentially being involved, Bruckheimer, 79, said, "Not at this point" but "the future is yet to be decided."

While Hollywood insiders had conflicting views on whether Depp's career would bounce back after the trial, a former Disney exec told PEOPLE at the time, "I absolutely believe post-verdict that Pirates is primed for rebooting with Johnny as Capt. Jack back on board. There is just too much potential box-office treasure for a beloved character deeply embedded in the Disney culture."

"With Jerry Bruckheimer riding high on the massive success of Tom Cruise in Top Gun: Maverick, there is huge appetite for bringing back bankable Hollywood stars in massively popular franchises," the insider added.

Depp earned an Oscar nomination for playing Jack Sparrow in the original 2003 film Pirates of the Caribbean: The Curse of the Black Pearl. Its hit sequels came out in 2006, 2007, 2011 and 2017.

For now, Depp is set to direct the Al Pacino-starring biopic Modi, which will tell the story of 20th-century painter Amedeo Modigliani.

He also recently made an appearance at the 2023 Cannes Film Festival to promote his movie Jeanne du Barry in which he plays Louis XV, the king of France who ruled from September 1715 until his death in 1774, opposite director Maïwenn.

The French film received a seven-minute standing ovation, which the Depp source notes moved the actor to tears and "was incredibly welcoming."

"He loved being there," the insider adds.