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The Blues have enjoyed a productive summer transfer window, bolstering new manager Mauricio Pochettino’s squad with six new signings.
But Chelsea will continue to explore deals until the window shuts and have turned their attentions to Palace winger Olise.
The 21-year-old has emerged as one of the most exciting players at Selhurst Park over the past two seasons and helped the Eagles secure their Premier League survival last term.
His form for Palace and the France U21 star has attracted interest from Chelsea and Premier League champions Manchester City.
Olise is currently sidelined with a hamstring injury he suffered during this summer’s European U21 Championships, but this has not put off Chelsea who have approached Crystal Palace with a €30m (£26m) offer.
As Olise has a release-clause of £35m, Chelsea’s bid will most likely be rejected but the Blues will not have to raise their offer by much to meet his buy-out clause.
Chelsea are interested in signing the Frenchman after selling Kai Havertz, Christian Pulisic and Hakim Ziyech this summer. Callum Hudson-Odoi is also expected to leave before the transfer deadline.
Olise could become Pochettino’s seventh summer signing following Robert Sanchez, Christopher Nkunku, Nicolas Jackson, Axel Disasi, Lesley Ugochukwu and Angelo Gabriel.
But Manchester City may yet rival Chelsea for the highly-rated Palace talent as they look to secure a replacement for Riyad Mahrez, who is one of a number of players who have moved to Saudi Arabia this summer.
MORE : New Chelsea signing Robert Sanchez hails Levi Colwill and warns Kepa Arrizabalaga
MORE : West Ham agree personal terms with former Chelsea target Edson Alvarez
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