The "Pirates of the Caribbean 5" release date is finally set for July 7, 2017 and the "Dead Men Tell no Tales" is up for some serious competition that summer.

Disney has announced "The Pirates of the Caribbean 5" release date and Johnny Depp is set to reprise his role as Capt. Jack Sparrow.

"The fifth installment in Disney's Pirates of the Caribbean franchise was to have been released in summer 2015, but was delayed in order to work on the script," The Hollywood Reporter said. "So far, Pirates 5 has the July 7-July 9 weekend to itself."

Joachim Ronning and Espen Sandberge, the directors of "Kon-Tiki," will help the latest installment of the "Pirates of the Caribbean" franchise, while Jerry Bruckheimer will stay as producer.

Earlier, Disney chairman Alan Horn said the "Pirates of the Caribbean 5" might possibly begin production this fall.

"It's possible. We haven't seen a screenplay yet that I've been able to sign off on," he said, according to The Hollywood Reporter. "There's a lot of variables that affect the final outcome once it leaves the studio lot, so we are very careful."

According to Deadline, with the announcement of the "Pirates of the Caribbean 5" release date, Disney has some serious competition for that slot. Among the more anticipated films for that month include "Fantastic Four 2" which opens on July 14, 2017 and "Despicable Me 3," which will be released in theaters on June 30, 2017.

The website said that "Pirates of the Caribbean: On Stranger Tides" grossed over $1 billion, while the whole franchise already earned $3.7 billion total in the box-office.

The last time Jerry Bruckheimer was interviewed, the "Pirates of the Caribbean 5" release date was still uncertain, but he assured that everybody's on board to make it happen.

"It's hopefully moving forward. Johnny is excited about it, obviously Disney is, we're excited about it. So hopefully we'll get that going this fall or end of the year if everything lines up properly," Jerry Bruckheimer told Coming Soon in June.