Kensington Palace would not comment on an Evening Standard report that the 30-year-old prince has decided to leave the armed forces later this year.
But BBC royal correspondent Nicholas Witchell said that possibility was being considered.
Harry joined the Army 10 years ago and has served twice in Afghanistan.
After training at the Royal Military Academy at Sandhurst, the prince spent 10 weeks on a deployment to Afghanistan in 2007 before being pulled out when news of his presence was leaked.
He returned to the country in 2012 for a five-month deployment as an Apache helicopter pilot.
The prince took up a staff officer role with the Army last year.
BBC royal correspondent Nicholas Witchell said: «If he did leave the Army it would give him greater freedom to concentrate on his charity work in support of wounded veterans, and in Africa where he founded the Aids charity Sentabale in Lesotho.»
He added that Harry was said to be «thinking very seriously» about his future, and that the prince might feel «frustrated in a desk job».
Harry’s charity work also includes the organisation of the Invictus Games for injured servicemen and women. The first Games took place in London last September.
Harry is to spend time seconded to the military in Australia before his active duties with the Army end, the Evening Standard reported.