Subtitled Dead Man's Chest, the original idea for the film franchise came from a popular ride of the same name at the theme park.
All the film's major stars were at the premiere, including Hollywood's enfant terrible Johnny Depp, who received a best actor Oscar nomination for his portrayal of kooky captain Jack Sparrow in the original.
Also at last night's event was English sweetheart Keira Knightley, as well as major love interest Orlando Bloom, who is in danger of being typecast as a blacksmith.
Despite being a typical all-American Hollywood blockbuster, there are a host of British actors in leading roles, including Billy Nighy as the unfortunate Davy Jones, while Jack Davenport, Kevin McNally, Jonathan Pryce and Mackenzie Crook otherwise known as Gareth from The Office all reprise their roles.
Before the premiere the film's stars had been privy to a sneak preview of the revamped Pirates of the Caribbean theme park ride, which now includes characters from the film's such as Jack Sparrow and the villainous Barbossa, played by Geoffrey Rush.
Pirates of the Caribbean: Dead Man's Chest sails into UK cinemas on July 6th.