The 17-year-old midfielder is set to complete a move to Stamford Bridge after a reported £1.7m fee was agreed between Union Espanola and the Blues.
Cuevas, who has scored three goals in 12 appearances for Chile’s Under-20 side, had a trial with the Champions League holders last November.
And it appears Chelsea have moved fast to snap up the highly-rated South American.
“Everything went very quickly and everything was settled this week,” he told Radio Cooperativa.
“Chelsea were following me for over a year and we have finally reached an agreement.
“I am already taking English classes so I can integrate quickly. It will be a big change. I could account for all the differences there were when I was there. But I am calm and very happy.”
ENHANCED ODDS: 9/1 on Liverpool, Atletico and Villarreal