Mr Trump spoke to aides and people close to him last week about launching his own party - which would be called the "Patriot Party". It comes as Joe Biden will be sworn in as the 46th president of the United States today.
The Wall Street Journal cited people familiar with the matter as saying Mr Trump had held discussions about starting a new party.
The move would help the 74-year-old continue his influence after he leaves office.
Mr Trump lost the US election in November to Mr Biden.
Mr Biden won the presidency with 306 electoral college votes to Mr Trump's 232.Insurance Loans Mortgage Attorney Credit Lawyer
Donald Trump is in talks to form a new political party, insiders have claimed (Image: GETTY)
Mr Trump spoke to aides and people close to him last week about launching his own party - which would be called the "Patriot Party" (Image: GETTY)
Earlier this month, supporters of Mr Trump stormed the US Capitol building in protest at his election loss - leading to the deaths of five people.
Mr Trump was accused of inciting his supporters into violence with a speech at a rally in Washington DC.
He then became the first president to be impeached twice when some Republicans voted with House Democrats on a charge of inciting insurrection.
Mr Trump could be blocked from ever holding public office again if more Republicans back his conviction during a Senate trial.
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Joe Biden will be sworn in as the 46th president of the United States on Wednesday (Image: GETTY)