Maybe. Maybe not.
That's because UFC President Dana White is currently wrestling with his feelings on the matter, as he's grown quite fond of Hardy throughout his time with the promotion.
When asked specifically if "The Outlaw" is a goner, White had this to say (via ESPN):
"Not necessarily. We'll have to wait and see. I f*cking love that kid."
If it's not what you know, but who you know, then it looks like Hardy is covered, despite losing his last three fights, including an ugly unanimous decision defeat to Anthony Johnson last night (March 26, 2011) at UFC Fight Night 24 in Seattle.
If he is released, it would represent quite the fall from grace for the British pugilist, as he was challenging Georges St. Pierre for the welterweight title just one year ago.
So how does he feel about his current misfortunes?
"Feeling very frustrated today. No excuses, sometimes you just dont win. I hate having boring fights though. Disappointed and angry, but physically ok. Thanks for the support everyone."
Those were the thoughts conveyed by Hardy on his Twitter account shortly after getting soundly out-grappled by Johnson for three rounds.
To add a bit of insult to injury, during the short amount of time the fight was contested standing up, "Rumble" got the better of him there as well, scoring a knockdown off a head kick in the early going.
Add that to the thorough domination that followed, combined with the three consecutive losses has more than a few fans and pundits calling for his head.
But is that what he deserves? Should he be given one more chance in the Octagon, if only because the bossman has an affinity for him and his fighting style?