“Johnny is being very careful he does not sign on for too many films,” an insider told a media tabloid.

“He doesn't want to ruin his career with overexposure like John Travolta or Nic Cage did.”

“This huge deal for Pirates means he will be able to pick his other roles very carefully on the strength of their script rather than their salary,” the source added.

Depp has returned to the limelight with his break up and rumored romance with Actress Amber Heard, meaning he can capitalize on the interest.

According to Forbes magazine's Celebrity 100 list, Depp, who this year split with long-time girlfriend Vanessa Paradis after 14 years, earned an estimated $US30 million in the 12 months upto May.

Back in 2011, producer Jerry Bruckheimer confirmed a script for the fifth film was in the works.

In the mean time, Depp has been filming Disney's remake of “The Lone Ranger”, which will hit theatres in July 2013.