Michio Kaku discusses the possibility of recreating dinosaurs using soft tissue in this extinct species speech. Kaku says that scientists are close to being able to create a genetic clone of a mammoth. Scientists have already brought back animals that went distinct decades ago, but the older the species, the more difficult the process.
Kaku says that it's not possible today to revive dinosaurs, but it's also not out of the question. Soft tissue has been found in the bone marrow of a few dinosaur skeletons, including a Tyrannosaurus. In the future, if creating a genetic clone of these dinosaurs becomes possible, an egg would be planted in the womb of an alligator, or some other large lizard, and a dinosaur could be hatched.