Irish actor Colin Farrell could be set to take over from Johnny Depp in a new movie by Terry Gilliam, according to reports.

Depp, 46, was reportedly originally set to play the role of advertising executive Tony Grisoni in The Man Who Killed Don Quixote.

However, the film was taken off schedule in 2000 after Jean Rochefort had to pull out because of poor health.

It is now claimed that Farrell, who appears in Gilliam's new movie The Imaginarium of Doctor Parnassus, will now take over the role.

An insider said: "Terry is a fan of Colin and it's felt he's one of the few people capable of filling Johnny's shoes."

Colin lovely in London

The Imaginarium of Doctor Parnassus premiere in Cannes