President Joe Biden is aware he could lose his candidacy after his alarming debate performance left allies worried and questioning his chances of beating Donald Trump in the November election, according to a new report.

Last week, Biden, 81, failed to quell concerns over his fitness for the presidential role with his disastrous debate performance, which included talking in a raspy voice, repeatedly misspeaking, losing his train of thought, and failing to respond to many of Trump's attacks.

The New York Times reported that Biden has privately admitted to allies that he knows he could be forced to withdraw from the race and replaced with another Democratic candidate if he shows a similar performance at his upcoming appearances.

"He knows if he has two more events like that, we're in a different place" by the end of the weekend, one anonymous ally who spoke with Biden told the publication.

President Joe Biden
President Joe Biden speaks onstage at the Congressional Black Caucus Foundation Annual Legislative Conference Phoenix Awards on September 23, 2023 in Washington, DC.
(Photo : Getty Images/Jemal Countess)

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A top Biden adviser who spoke to the Times on the condition of anonymity also confirmed that the POTUS was "well aware of the political challenge he faces."

Biden will get the chance to convince voters of his suitability for the role during his interview with George Stephanopoulos and campaign stops in Pennsylvania and Wisconsin later this week.

Amid the growing calls for Biden to be replaced with a younger candidate, White House Press Secretary Karine Jean-Pierre denied claims that the president has talked to allies about stepping down.

"That is absolutely false," she told reporters.

U.S. President Joe Biden
U.S. President Joe Biden delivers remarks at a reception for the 2022 Kennedy Center honorees at the White House on December 04, 2022 in Washington, DC.
(Photo : Getty Images/Kevin Dietsch)

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Jean-Pierre also called Vice President Kamala Harris "the future of the party."

Harris is among the most popular of the names being floated as potential replacements for Biden.

TMZ reported that a Biden campaign official believes Harris is the most likely to replace him in the event of a withdrawal as she could seamlessly use the funds raised by their campaign so far.

Kamala Harris and Joe Biden
U.S. Vice President Kamala Harris introduces President Joe Biden during an event about their administration's work to regulate artificial intelligence in the East Room of the White House on October 30, 2023 in Washington, DC.
(Photo : Chip Somodevilla/Getty Images)

Since the debate, some Democratic leaders and donors have called for Biden to step aside.

In a Tuesday statement obtained by CNN, Democratic Rep. Lloyd Doggett of Texas said, "I represent the heart of a congressional district once represented by Lyndon Johnson. Under very different circumstances, he made the painful decision to withdraw. President Biden should do the same."

Democratic Party mega-donor and Netflix co-founder Reed Hastings echoed his sentiments in an email with the Times.

"Biden needs to step aside to allow a vigorous Democratic leader to beat Trump and keep us safe and prosperous," said Hastings, who donated up to $1.5 million to Biden's 2020 campaign.