Speculation of the pair dating began last year after Kardashian, 41, hosted Saturday Night Live.
Davidson, 28, and Kim starred as Aladdin and Jasmin, respectively, and shared an on-screen kiss, which sent the internet into a frenzy.
After being spotted by paparazzi, the couple finally went 'Instagram official' in March and stayed together for nine months.
However, an inside source said to be close to the couple has told E! News that the couple have called it quits.
The source said they have decided to just be friends and the pair still have 'a lot of love and respect for each other'.
It's also being claimed their demanding schedules 'made it really difficult to maintain a relationship'.
The split reportedly happened sometime this week.
UNILAD have contacted representatives of Kim and Pete for comment as they are yet to confirm or deny the rumours.
Last month, Kim revealed that she never planned to have a relationship with Davidson.
The mum-of-four who had separated from her ex Kanye West, says she had heard about Pete's 'BDE' (big d*** energy) and she was simply 'DTF' (down to f***).
"I was just thinking, like, I heard about this BDE and I need to get out there," she laughed, during an episode of The Kardashians.
"I need to jumpstart," she said, while adding: "I was basically just DTF."
As the couple spent more time together, Kim says she it wasn't just about his 'energy'.
She also referred to him as being 'the best human being I've ever met'.
Kim added: "People always say he’s so funny and it all has to do with how funny he is. But that’s, like, fourth on my list of why I like him.
"He always wants the best for people, can handle anything, always does it with grace. He’s really, really thoughtful and humble and so genuine.
"I would say the perfect word to describe him is genuine."
The relationship came after Kim's high profile divorce from rapper Kanye West, 44, who received backlash from his music video for his single 'Eazy', where he appears to throw a bag over Davidson’s head while kidnapping him on the back of a motorcycle.
Davidson then gets buried in the ground with only his head poking out, only for Ye’s caricature to throw seeds over the comedian’s head which later bloom into flowers.
When it comes to Ye’s views on his former wife’s new boyfriend, he’s just as literal with the lyrics, which include the line: “God saved me from the crash just so I can beat Pete Davidson's a**.”
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