Prince Philip has reportedly told son Prince Andrew to accept his royal life is over.

The Duke of Edinburgh, retired from royal duties on August 2, 2017. Now 98, he spends most of his time at the Royal Family's Sandringham estate.

A source told The Telegraph Prince Andrew, 59, drove to the estate to see his father and older brother Prince Charles on Thursday, and was allegedly told to "take his punishment" and accept his royal career is over.

"It was a tense meeting, and Philip told his son he had to take his punishment," the source said. "There was no screaming or shouting, but Philip told him in no uncertain terms that he had to step down for the sake of the monarchy.

Prince Philip has reportedly told his son to accept his royal life is over. (Getty)

"It was all very civilized, but Charles calmly read him the riot act and told him there was no way back for him in the near future. Andrew thought he was being treated harshly as nothing has yet been proved against him, but he accepted the decision."

The source said Philip was sympathetic to his second-eldest son, but focused on the best interests of the royal family.

"Philip doesn't like trial by the media, but he is realistic enough to realise that Andrew's actions were a danger to the very fabric of the royal family," the source added.

The Duke of York is accused of having sex with then-17-year-old Virginia Roberts Giuffre, who says she was sex trafficked by now-deceased convicted paedophile Jeffrey Epstein from the age of 15.

Giuffre claims Andrew had sex with her three times, in New York, London and later on Epstein's private island in the Virgin Islands.

The prince has faced growing criticism over his friendship with Epstein since giving an interview to the BBC, during which he said he doesn't remember ever having met Giuffre.

Prince Andrew has stepped down from royal duties. (AP/AAP)

Following the airing of the interview, Andrew was forced to step down from his royal duties and as resigned from his charity patronages.

Plans for a lavish 60th birthday party for the prince on February 19 have reportedly been cancelled in favour of a family dinner.

The Duke's eldest daughter Princess Beatrice is getting married in 2020, and the scandal is believed to have put a damper on preparations for the event.

In a statement, Andrew repeated his claims of innocence and offered to help authorities during their investigation.

"Of course, I am willing to help any appropriate law enforcement agency with their investigations, if required," he stated.

Prince Charles was reportedly at the dinner at Sandringham. (Getty)

Buckingham Palace has released the following statements on behalf of Prince Andrew:

"The Duke of York unequivocally regrets his ill-judged association with Jeffrey Epstein. Epstein's suicide left many unanswered questions, particularly for his victims. The Duke deeply sympathises with those affected who want some form of closure. It is his hope that, in time, they will be able to rebuild their lives. The Duke is willing to help any appropriate law enforcement agency with their investigations, if required."

A second statement read: "It is emphatically denied that The Duke of York had any form of sexual contact or relationship with Virginia Roberts. Any claim to the contrary is false and without foundation."