Ulfric's War Axe is a unique Steel War Axe and quest item found in The Elder Scrolls V: Skyrim.
It is given to the Dragonborn by Ulfric Stormcloak if the Dragonborn sided with the Stormcloak rebellion. The axe is to be delivered to Balgruuf the Greater, Jarl of Whiterun, as a warning; either he is with Ulfric, or against him.
Delivering the axe to Balgruuf begins the next section of the questline to reclaim Skyrim from the Imperials.
As Ulfric's War Axe is considered a quest item, it cannot be removed from the inventory by normal means. It can, however, be placed on a weapon rack located in a house owned by the Dragonborn.
It may be pickpocketed from Ulfric with the Misdirection perk.