The 28-year-old rap star - who has Stormi, two, with the make-up mogul - remains eager to rekindle his relationship with Kylie, 22.
A source told Us Weekly: ''He is still hopeful that there's a chance that they'll reconcile. They stay in touch and hang out.''
The high-profile duo began dating back in 2017, but they decided to split last year.
In recent months, there has been persistent speculation that they'll give their relationship another try - but according to a source close to the situation, they ''aren't back together'' at this time.
Meanwhile, Kylie has topped Forbes' annual list of highest-paid celebrities.
The businesswoman is reported to have made as much as $590 million over the past year, putting her way out in front of second-placed Kanye West ($170 million) on the list.
Kylie's eye-watering earnings came after she sold a 51 percent stake in Kylie Cosmetics to the beauty giant Coty.
Despite this, Kylie recently became involved in a high-profile dispute with Forbes, after the magazine insisted she wasn't a billionaire.
The publication accused the make-up mogul of spinning a ''web of lies'' about her business, including her Kylie Cosmetics brand.
But Kylie's lawyer, Michael Kump, hit back at Forbes, insisting its article contained ''outright lies'' about the star and demanded the company retract its comments.
He said: ''We have reviewed Forbes' article accusing Kylie of engaging in deceit and a 'web of lies' to inflate her net worth. The article is filled with outright lies.
''Forbes' accusation that Kylie and her accountants 'forged tax returns' is unequivocally false and we are demanding that Forbes immediately and publicly retract that and other statements.''