Italian media outlet Tuttosport, as quoted by talkSPORT, is reporting that the Blues are interested in a potential deal to sign the Juventus striker.
The same article states that Chelsea FC have been put on red alert after Juventus expressed a desire to cash in on the South American forward this summer.
According to the same story, the Serie A champions want to sell the Argentina international given the striker is 30 and entering the twilight of his career.
Higuain has won two Serie A titles and two Coppa Italia titles at Juventus since his move from their title rivals Napoli in 2016.
The Argentinian striker comes with a wealth of experience having spent seven seasons at Real Madrid before his move to Naples.
Higuain won three La Liga crowns and the Copa del Rey during his spell at Real Madrid and scored 121 goals in 264 appearances in all competitions for los Blancos.
The 30-year-old was part of the Argentina team that lost 1-0 to Germany in the World Cup final in Brazil in 2014.
Chelsea FC finished in fifth place in the Premier League table last term.
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