Elon Musk's time at the White House is coming to an end ... at least that's what President Trump is reportedly telling those closest to him.

POTUS has told his inner circle and some members of his Cabinet that Elon will soon be stepping back from his role as a senior White House advisor ... according to a report Wednesday from Politico, citing three anonymous "Trump insiders."

Trump hinted at the change Monday, telling reporters in the Oval Office ... "I think he's been amazing but I also think he's got a big company to run and so at some point, he's going to be going back. He wants to. I'd keep him as long as I could keep him."

Elon has also been heavily involved in cuts at the Department of Government Efficiency -- also known as DOGE -- and he tried to get a conservative judge elected this week in Wisconsin, spending more than $20 million, but failed.

Trump is reportedly pleased with Elon, but Politico claims some in the Trump Administration are frustrated with Musk and believe the billionaire is a political liability.

Elon's got a lot going on outside of Washington ... he's also the CEO of SpaceX and Tesla ... and his car company has become the target of protests and vandalism across the country.

There's more at play here ... Elon is a special government employee who is temporarily exempt from some rules regarding ethics and conflicts of interest ... and those protections end after a 130-day period that is expected to run out at some point in the next two months.

While Trump is reportedly laying the groundwork for Elon's exit, Politico reports some Trump insiders say Musk will transition to an informal role in the administration and won't completely fade away from Trump.

We've reached out to the White House ... so far, no word back.