The star received a cut of the Pirates movies' profits after Walt Disney Studios broke even on production and marketing costs. The first four films have grossed nearly $3.7bn (£2.3bn) at the box office.
Disney and Depp's agent declined to comment on the negotiations for a fifth Pirates film, according to The Wrap.
Insiders have claimed that Deep is currently talking with Disney to reprise the role of Captain Jack Sparrow due to the success of this year's Pirates of the Caribbean: On Stranger Tides.
Depp has said he is willing to star in another Pirates movie, saying: "Basically, if they're going to pay me the stupid money right now, I'm going to take it."
In June, it was reported that Tim Burton, Sam Raimi and Shawn Levy are all being considered to direct the next instalment of the franchise.
> Pirates of the Caribbean star Sam Claflin keen for sequel return
Watch a trailer for Pirates of the Caribbean: On Stranger Tides below: