Johnny Depp Will Return to Acting, But Focusing on New Career Chapter |

Johnny Depp hasn't retired from acting, despite the fact he's currently giving all his attention to directing right now ... TMZ has learned.

Sources close to Johnny tell TMZ ... the Oscar nominee isn't done with performing in front of the camera, but his current passion has been directing the biopic "Modi," as he's been very happy being back in the director's chair.

The forthcoming drama about the life of Italian artist Amedeo Modigliani stars Riccardo Scamarcio, Sally Phillips and Al Pacino ... and the film has already gotten great buzz. It's his first time directing a feature film since 1997's "The Brave" ... which he also co-starred in with Marlon Brando.

We're told Johnny is very focused on editing and finalizing "Modi" at the moment, but nothing is off the table for him, career-wise -- and he plans to return to acting in American films at some point in the future ... when the time is right.

For now, he's been keeping busy in Europe -- he was noticeably thinner, and rocking a new haircut Monday at the London premiere of his film, "Jeanne du Barry."

During the event, Johnny met with students from the Ghetto Film School's London chapter -- a nonprofit that offers aspiring filmmakers some hands-on experience.