The Guardian has reported the musician turned actor is going back to his roots and is releasing a new album in July with his friend and guitar legend, Jeff Beck.
The announcement came during the pair's June 2 performance with Beck telling the crowd, "I met this guy five years ago and we've never stopped laughing since."
Beck added, "We actually made an album. I don't know how it happened. It will be out in July."
"He's figuring out what he does next. He feels like he's been vindicated," the source said. "He feels a significant weight off his shoulders. It's been six years of this. It's been so gratifying to hear from men and women — he's heard a lot of positive support from both men and women."
The source said Depp is "focused on himself" and "is absolutely looking ahead and past this. He's looking for positivity and to move away from negativity."
Earlier this week after an explosive and at times disturbing defamation trial, a jury found Depp should be awarded the partial sum of $US15 million ($23.1m) in damages. Depp was initially seeking US$50m after Heard implied he abused her in a 2018 Washington Post op-ed. Although she did not name him, he claims her allegations are false and cost him lucrative movie roles.
However, despite the win, the jury also found in favour of Heard, who countersued Depp for $US100m.
Heard claimed said she was defamed by Depp's lawyer when he called her abuse allegations a hoax. The jury agreed to a lesser degree, awarding her just US$2m of the hefty sum first requested in damages.
Depp was not present to hear the verdict in his defamation case - instead, he was in the UK touring with Beck, with sources claiming he was absent due to "previously scheduled work commitments".
Despite his absence, the actor quickly posted a reaction to his Instagram account, where he said he has been "overwhelmed by the outpouring of love and the colossal support and kindness from around the world".
"From the very beginning, the goal of bringing this case was to reveal the truth, regardless of the outcome. Speaking the truth was something that I owed to my children and to all those who have remained steadfast in their support of me. I feel at peace knowing I have finally accomplished that.
"I am, and have been, overwhelmed by the outpouring of love and the colossal support and kindness from around the world. I hope that my quest to have the truth be told will have helped others, men or women, who have found themselves in my situation, and that those supporting them never give up. I also hope that the position will now return to innocent until proven guilty, both within the courts and in the media.
"I wish to acknowledge the noble work of the Judge, the jurors, the court staff and the Sheriffs who have sacrificed their own time to get to this point, and to my diligent and unwavering legal team who did an extraordinary job in helping me to share the truth. "The best is yet to come and a new chapter has finally begun."
He signed off his statement with "Veritas numquam perit. Truth never perishes."