The Brexiteer has snapped up the five-storey mansion which is closer to the House of Commons than Downing Street.
It comes after Rees-Mogg took aim at Theresa May's soft stance on Brexit negotiations, saying the PM was showing “abject weakness”.
Now news of his new strategically placed home has many speculating a coup, according to Mail Online.
But Mr Rees-Mogg has played down speculation.
He told the site: "I bought it because I have six children.
"My Mayfair house has three bedrooms for nine people so reception rooms now have children in them."
His new street, in the heart of 'Old Westminster' is only 500 yards from Tory HQ.
The new £5.625m property became vacant after former Tory deputy chairman Lord Ashcroft moved out.
Michael Gove is also tipped for the top with Tories planning for him to succeed May as caretaker PM, before handing power over to Scottish party leader Ruth Davidson.
But Rees-Mogg is favoured by the bookies to succeed May and is set for a tough Commons showdown over the party's Brexit plan next month.
Through his powerful European Research Group (ERG) bloc of Brexiteers, Rees-Mogg has slammed May's approach to leaving Europe.
He said: “I fear we are getting to the point where you wonder if the Government wants to leave at all.”
And he accused May of kowtowing to Brussels, blaming her pre-election Remain stance for a lack of trust in the party.
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