The current contract between programme makers Endemol and Channel 5 comes to an end after the summer series.
With falling ratings, it had been reported that Channel 5 won't renew their deal for any more series.
An insider told The Daily Star newspaper: "There have been conversations between the execs about not renewing the contract for both Big Brother and Celebrity Big Brother.
"It would be the end of an era but they feel the time is right to end."
But sources say that discussions remain ongoing as things stand.
Deadline reports that there is "no truth" (yet) in the rumours that the show has been axed.
"Both companies are still in discussions over future series when the contract for the house-based entertainment format ends later this year," they add.
A spokesperson for Channel 5 said: "Channel 5 are committed to a further series of Big Brother and of Celebrity Big Brother later this year."
Even if Channel 5 does decide to drop Big Brother after 2018, it may well continue on.
The show was originally axed by Channel 4 before Channel 5 picked it up and it's possible another channel - or streaming service like Netflix - may takeover the rights.
Richard Johnston, Chief Executive for programme makers Endemol Shine UK, said they were looking to "overhaul the show" and make “Big Brother as brilliant and relevant as it can possibly be”.
“We have some of the best creative brains in the business looking at not only [in 2018] year but the next 10 years, in terms of creative direction," he said. "There are some really exciting ideas being discussed."
For now, Celebrity Big Brother 2018 continues nightly on Channel 5.
The final of the current series will air on Friday, February 2.