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In Weirdmageddon 3: Take Back the Falls, Bill went into Grunkle Stan (Stanley Pines)'s mind, but Grunkle Ford (Stanford Pines) used a memory gun to defeat Bill. But at last Grunkle Stan's memories went back when Mabel showed him her scrapbook, so does that mean Bill came back too? Or is he still dead?
Alex Hirsch purposely did that so if he returns to Gravity Falls, he can use that as a way to make a new season if he wants to. So, if Gravity Falls never comes back, no, but if Alex Hirsch will make season 3, yes.