Cowell, 55, told Walsh, 62, personally, reported Daily Mirror.
"Simon spoke to Louis and told him that it's 95 per cent certain that he'll be 'stood down' this year," a source said.
Only a few weeks ago pop mogul Walsh revealed he was "done with 'X Factor'" after 11 years on the hit show.
Walsh said he wanted to go back to managing acts and expects TV bosses will want to bring in new faces to freshen up the panel.
So far the 2015 series of "X Factor" has already seen Dermot quit only to be replaced by Olly Murs and Caroline Flack.
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