The former Juventus manager was named as Guus Hiddink’s successor earlier this year after a disappointing 2015-16 campaign for the west London side.
The Italian signed Belgium striker Michy Batshuayi, Leicester City midfielder N’Golo Kante, Spanish full-back Marcos Alonso, Paris Saint-Germain defender David Luiz and Dynamo Kyiv veteran Eduardo in the summer transfer window.
Kante and Luiz have established themselves as first-team regulars in Conte’s side in recent weeks, while Alonso has started Chelsea’s last two Premier League games.
However, former Liverpool and Tottenham midfielder Souness believes the Chelsea manager has signed squad players to add depth to his squad but hasn’t recruited the quality required to win the Premier League.
“When you look at the signings that Chelsea have made, they didn’t make any statements,” Souness told Sky Sports ahead of Chelsea’s 3-0 win against Leicester City on Saturday afternoon.
“They didn’t go out and sign any players that you thought would make a big difference. They bought squad players. Chelsea supporters have to realise that and live with that.
“I don’t think Chelsea have players that are good enough to win the Premier League.”
Chelsea are in fifth place in the Premier League table and three points behind leaders Manchester City.
The west London side will host Jose Mourinho’s Manchester United side in their next Premier League game at Stamford Bridge on Sunday afternoon.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news