While the French actress will play De Beauvoir in the film titled My American Lover, Depp is in negotiations to play her lover Nelson Algren, reports digitalspy.co.uk.
"They're still writing the script but the idea would be amazing because it's such a beautiful story. You only know when you're really actually shooting," said Paradis.
The couple were previously cast together in Terry Gilliam's Don Quixote, but the film could not be completed.
"We've had plenty of opportunities to work together. But I don't know that I could do it... It's something we don't look for, otherwise it would've happened many times," she said.
"My American Lover came along and it might happen just because the story is great and why not if we can, but we don't push things. Playing in front of one of the best actors in the world that we have and someone I know so well will be challenging," she added.
