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James L. Brooks believes his longtime friend and collaborator Jack Nicholson is not done acting

Nicholson last appeared on the big screen in Brooks' 2010 movie How Do You Know , which was also Brooks' last movie as a writer-director before releasing Ella McCay

"I think he's one of the greatest actors we've ever had," Brooks says of the three-time Academy Award winner

Jack Nicholson might not have appeared in a movie since James L. Brooks ' 2010 comedy How Do You Know , but as the Oscar-winning filmmaker tells PEOPLE, Nicholson hasn't "stopped" acting.

Brooks and Nicholson, both 88, built a professional collaboration and personal friendship worthy of Hollywood lore through Nicholson's Oscar -winning performances in Brooks' beloved dramedies Terms of Endearment

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