Boxing has been included in all but one (1912) Olympics since first appearing 1904, although the recent conduct of the AIBA (amateur governing body) has led to the IOC to consider whether the sport has a place in two years time.
"The IOC reserves the right to review the inclusion of boxing on the programme of the Youth Olympic Games Buenos Aires 2018 and the Olympic Games Tokyo 2020," said IOC President Thomas Bach in a statement ahead of the Winter Olympics in South Korea.
"We are extremely worried about the governance in AIBA," he added.
Bach stated boxing was not guaranteed a place and cited judges controversies at Rio 2016 as a contributing factor.
"From the fact that refereeing is part of the decision we already took in December last year and we were requesting more information, you can conclude we're still looking into this issue," Bach pointed out.
Should boxing be removed it would be a huge blow for not only the amateur code but the sport as a whole.
Many of today's top stars cut their teeth when participating and winning medals at the Olympics, with pound for pound stars Vasyl Lomachenko, Alexsandr Usyk and Gennady Golovkin prime examples.
More is set to be revealed on the situation after the Winter Games' conclusion.