It is not yet clear if Akhilesh will be accorded a scaled down security cover by some other central force or his central security has been taken off completely.
A similar National Security Guard (NSG) 'black cats' cover of Yadav's father and SP patriarch Mulayam Singh Yadav, however, will continue, sources said.
Akhilesh was accorded the top category VIP security in 2012 during the UPA regime at the Centre.
A team of about 22 NSG commandos, armed with sophisticated weapons, had been deputed with Akhilesh as part of his security cover.
The Home Ministry took the decision on the basis of threat perception reports prepared by central and state (Uttar Pradesh) intelligence agencies, the sources said.
The security cover of at least two dozen other VIPs has also been either withdrawn or scaled down, they said. The official orders will be issued soon, officials said.
The federal counter-terror force NSG, at present, has 13 prominent politicians under its cover, including Defence Minister Rajnath Singh, former Uttar Pradesh Chief Minister Mayawati, besides present Chief Minister of the state Yogi Adityanath, Assam Chief Minister Sarbananda Sonowal, former Chief Ministers Chandrababu Naidu and Farooq Abdullah among others.