According to the magazine, Depp, 52, only returned $ 1.20 for every $ 1 he was paid.
The "Black Mass" star replaced last year's most overpaid movie actor Adam Sandler to top the list.
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However, Washington's ranking is possibly due to an "inflated paycheque" as none of his last three films appear to have lost money.
The top five also include Will Ferrell, Liam Neeson and Will Smith.
Ferell's most recent films returned only around $ 6.8 for every dollar the actor was paid.
For Neeson and Smith the amount was $ 6.50 per $ 8.6 respectively.
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