The bronze by Sir Jacob Epstein, worth hundreds of thousands of pounds if it were ever sold on the open market, enjoyed pride of place in the Oval Office during President Bush's tenure.
But when British officials offered to let Mr Obama to hang onto the bust for a further four years, the White House said: "Thanks, but no thanks."
American politicians have made quoting Churchill, whose mother was American, something of an art form, but not Mr Obama, who prefers to cite the words and works of his hero Abraham Lincoln. Indeed a bust of Mr Lincoln now sits in the Oval Office where Epstein's Churchill once ruled the roost.
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