The dating show - which sees 24 single women compete to win the affections of one eligble bachelor - was resurrected on C5 in 2011, having previously run for three series on BBC Three.
It pulled in respectable figures for the broadcaster, with around 1.6million viewers tuning in to see rugby player Gavin Henson choose Carianne Barrow as his winner in the finale.
However, when it returned again last June with Made In Chelsea star Spencer Matthews at the helm, ratings fell through the floor, with the entire series averaging less than 1million viewers.
A source said: "The show didn’t do hugely well last year and Channel 5 are now giving it a rest.
"But it is a good format and the owners have been sounding out other broadcasters to see if anyone else is up for taking it on."
Both bachelors failed to maintain relationships with their love interests after the cameras stopped rolling.
Barrow broke up with Henson after a four-month fling - describing him as 'boring, weird and spineless' - while Matthews didn't even attempt a romance with his choice Khloe Evans.
The Bachelor remains a hit in its native US, where it's just begun airing its seventeenth season on ABC.