The reward is being offered by special agents to the Libyan who can deliver them Gaddafi -- dead or alive.
British and US spies are in Libya with bundles of cash to tempt Gaddafi's closest bodyguards and aides to turn hitman or hand him over.
"There is about 10 million pounds from the Brits and Americans to make it happen. They have infiltrated his closest body- guards. With the right people together it could happen in days," the Daily Star quoted a well-placed security source as saying.
"The important thing is this has to be done by Libyans. We cannot have British fingerprints on this. It's up to the Libyans and there is an open cheque book.