The resignation comes just two months after Mr Johnson's sweeping election victory in December and four weeks before Mr Javid was due to deliver his first budget.
It is understood Mr Javid refused the role after he was set an ultimatum to fire his special advisers to be able to continue in it.
"He has turned down the job of chancellor of the Exchequer," a source close to Mr Javid told the BBC. "The prime minister said he had to fire all his special advisers and replace them with Number 10 special advisers to make it one team.Chief Secretary to the Treasury Rishi Sunak has been named as his replacement.
Mr Javid's resignation comes amid rumours of tensions between him and Mr Johnson's senior advisor Dominic Cummings.Tweet: John McDonnell"It's clear Dominic Cummings has won the battle to take absolute control of the Treasury and has installed his stooge as the Chancellor." Other big-name casualties of the reshuffle include business secretary Andrea Leadsom and attorney general Geoffrey Cox.
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