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The actor's "Easy Rider" co-star Peter Fonda spoke to The Sun at a BAFTA Tea Party event recently, saying that Jack is "basically retired."
"I don't want to speak for him but he has done a lot of work and he has done very well as a person financially," Peter said. "Sometimes people have a reason that you don't know, and it's not for me to ask. I don't call him up and say, "Johnny,' I call him Johnny Hop, 'What are you doing?' I would say, 'How are you, how do you feel?'"
Only a role that Jack is incredibly passionate about would lure him back, Peter says.
Jack hasn't confirmed whether he's retiring or "basically retired," but his last significant film role was in 2010's "How Do You Know."
His six-decade career is already one for the ages, having been nominated for 12 Academy Awards and winning three of them for "One Flew Over The Cuckoo's Nest," "As Good As It Gets" and "Terms Of Endearment."
Although he's still a mainstay at Los Angeles Lakers games, Jack said in 2013 that he prefers to stay at home these days.
"I got tired of arguing with women about going to have dinners so I hired a cook. The food is better at my house," he said. "But still, a lot of times ladies want to go out, and I'm happier in my dinky little house."