Reese Witherspoon is livid over ex-hubby Ryan Phillippe, with her former husband living a Lothario lifestyle that could be a bad in fluence on their kids!

Even Ryan’s neighbors are concerned about the star’s partying ways, sources exclusively told The National ENQUIRER. The couple has two children – Deacon, 11, and Ava, 15 – from a marriage that flamed out in 2006 after Ryan soiled the wedding sheets with blonde beauty Abbie Cornish.

“There’s lots of conflict between Reese and Ryan about the kids – especially Deacon, and what he’s exposed to when he’s at Ryan’s home,” our insider dished.

Ever since his split from his Oscar-winning wife, the “Secrets and Lies” star has gone through a conga line of young girls – including baby mamma Alexis Knapp, with whom he has a daughter. The 40-year-old dad isn’t slowing down, either, with Ryan dating 24-year-old model Paulina Slagter!

“So now he’s got this kid out of wedlock, and his son, Deacon, is perpetually freaked out about it, and Ryan’s been plowing through 25-year-old model after 25-year-old model,” our source divulged. “My own wife wouldn’t let me bring our son over his house for a play date!”Reese, 38, shares custody of her children with Ryan, and tries to raise the children in the same kind of stable upbringing that she enjoyed while growing up in Nashville.

Meanwhile, her ex-husband has gone public with his battle with depression, saying that it’s “been a huge obstacle.” The insider told The ENQUIRER: “Ryan has all the characteristics of being bipolar. If you catch him on a ‘good day’ emotionally, he can be a prince of a guy – but his mood swings have made life hard for those around him.”