According to German paper Bild, the Blues submitted a €60m for Mkhitaryan last summer and are ready to go back in for him when the transfer window reopens at the end of the season,
The Armenia international has enjoyed a phenomenal season, scoring 23 goals and creating a further 30 in 49 appearances.
He is about to enter the final 12 months of his contract and appears no closer to a new deal after snubbing a £6.4m-a-year extension.
Asked by Bild if he is about to pen fresh terms, Mkhitaryan said: “I do not know yet.”
And when pressed on Chelsea’s interest, he replied: “I do not know.”
Chelsea are prepared to back new boss Antonio Conte in the transfer market and the Italian reportedly has a £130m kitty to play with.
Unsurprisingly, Mkhitaryan has plenty of admirers including Arsenal and Juventus.