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Linda McMahon

Linda McMahon is stepping down from her position in President Trump's cabinet ... but she won't be far from POTUS for long.

Trump announced the former WWE CEO is resigning as the head of the Small Business Administration at Mar-a-Lago on Friday .... saying "She has been one of our all-time favorites."

"I knew she was good, but I didn't know she was that good."

Although McMahon is stepping down, she's not leavin' Trump -- she's putting her focus on his reelection.

"She'll be leaving, she's going to go and help us with a very, very important year-and-a-half that we have coming up.