The Sir David Jason comedy has been dropped by BBC One after poor ratings, The Sun claims.
The show premiered on Boxing Day to around 7m viewers but the audience dropped to 2.8m for its final episode.
"Unfortunately the show just did not work out," a source said. "Ratings fell and it got a mauling in the press. It is highly unlikely that it will return."
Jason has previously confessed that the team behind the show "didn't quite bring it off", while comedian Dave Spikey recently told Digital Spy: "Everyone in the country is saying, 'How on earth did The Royal Bodyguard get on television?'"
A BBC spokesperson insisted that no decision about The Royal Bodyguard's future has been made.
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