Andres Bautista, the head of Presidential Commission on Good Government, told reporters he has recommended to President Benigno S. Aquino III that the commission be dissolved, despite the fact that much of Marcos' wealth has not been recovered.
"Our recommendation was to wind down work," Bautista said.
Marcos ruled the Philippines as president from 1965 until his ouster in the People Power Revolution of 1986.
The New York Times said investigators have accused Marcos, his family and his associates of stealing $10 billion from the Philippines while people there suffered from poverty.
Marcos died in exile in the United States in 1989.
Bautista said the agency has recovered about $4 billion since its creation in 1986.
The Times said the abolition of the commission must be approved by the president and both houses of congress.