Jiraiya senseis death was one of the saddest scenes in Naruto that’s why every naruto fan hopes that somehow he is still alive and that he has decided to take a break to continue his travels in search of knowledge. but after a lot of researches, I have come up with solid proofs that the pervy sage might still be alive.
Disclaimer: This article is just a theory and not an official claim, A theory we all would wish to be true. It comes with reasonable evidence too.
The keyword is “Rinnetensei no jutsu”, To perform this technique, the user summons the King of Hell, which then releases the souls of the deceased from its mouth. The deceased individuals’ souls may be recalled from even the crossroad between life and the afterlife, returning to their rejuvenated bodies. We all know nagato used this technique in regrets of what he has done to konoha village.
And after talking with Naruto he decided to compensate for everything by sacrificing his life and revived everyone he has killed using “Rinnetensei no jutsu”. So it is obvious that he especially regrets killing Jiraiya as well.
Now here’s where it gets complicated, a lot of fans say that the jutsu can only bring back the lives of people that are freshly killed so jiraiyas reincarnation is off limits because it has been a few weeks after his death, however, madaras revival with Rinnetensei proves that it is very possible to revive a dead even after many years of its death.
Plus the chakra rods that pain stabbed jiraiya with could transmit his chakra into jiraiyas dead body. Also if kabuto couldn’t revive jiraiya that could be because the pervy sage was already alive and well (though kabuto did say that he was unable to reach samples from jiraiyas DNA).
Plus if orochimaru becomes the main villain in “boruto:naruto next generation” it will only be convenient if his old teammate stops him like in the case of naruto vs sasuke and obito vs kakashi.
I hope you find these evidence reasonable and don’t forget to comment your point of view.