Johnny Depp returning to Pirates of the Caribbean

Johnny Depp is set to return to the Pirates of the Caribbean franchise.

The 46-year-old actor has secured a minimum £21 million pay deal for the fourth instalment of the series, making him the current highest-earning actor is Hollywood.

If the new film, named On Stranger Tides, becomes a box-office hit, the star could earn even more.

The pay-deal puts Depp at the top of Hollywood's high-earning actors list, above Tom Cruise, Mel Gibson and Tom Hanks, who often command large salaries.

Depp will return to the role of Captain Jack Sparrow but his old co-stars Kiera Knightley and Orland Bloom will not star in the new film.

It is rumoured that the female lead will be played by Penelope Cruz instead.

The first Pirates of the Caribbean film was released in 2006, while Dead Man's Chest followed the same year. At World's End, the third instalment of the franchise, was released in 2007.