"It has been the biggest reality franchise of all time," the insider reportedly told Naughty But Nice Rob. "Both Kim and Kris want to make sure they end on a high note, leaving fans wanting more, rather than try and stretch the show on for another few seasons and watch it die a death.
"Plus, they are now moving on in their lives," they added. "Exploring new options and opportunities – Kim wants to be with her daughter and Kanye, while Kris wants to focus on being a talk show host and maybe start producing movies. She's telling everyone that one day she will have an Oscar."
"They have all made so much money that they never need to work again," said another family friend. "They want a break from the cameras. That shouldn't too surprising – after all, all the great shows eventually end. Just look at Friends, Oprah and Seinfeld."
The hugely popular reality TV show is currently in its eighth season, after the Kardashians signed a three-year deal worth $40million in 2012 to continue filming the series.
Earlier this year, speculation grew that the show would be ending, but Kim took to her blog to quash such rumours.
"I know that many of you have read the Dujour Magazine interview I just did. In the article, I was asked about continuing on with 'Keeping Up with the Kardashians.' As everyone knows, we are extremely proud of the show and all of us are staying on through at least season 10," she wrote.
"The show remains to be my number one priority and it’s a big part of my life and I enjoy every moment of it. It has given me such a rare opportunity to share more of my life with all of you and has brought my family closer to each other.
"I’m looking forward to the new season and beyond. The fact is that I have many goals that I still need to reach and accomplish and I (like so many of you) don’t know where my life will be in the next couple of years, but I’m looking forward to continuing this journey."