The couple has short-listed the traditional name in honour of Prince Philip, the Duke of Edinburgh and the husband of Queen Elizabeth II, royal sources said.
"The name Philip is in the frame for a boy. It will certainly have it somewhere in his name," a royal insider was quoted as saying by The Daily Star.
The royal baby, if it is a boy, may carry 'Philip' somewhere in its name as even William's full name is Prince William Arthur Philip, and his father is Charles Philip Arthur George.
The aide said William, 30, would make the decision if they have a son.
The 31-year-old Duchess, who is due to give birth in July, has claimed not to know the sex of her baby.
During a visit to Scotland last week, the royal couple kept tight-lipped on their options for names.
"We have a short-list for both but it's very difficult. My friends keep texting me names," Kate said.
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