The Daily Star Sunday says Thiago, labelled "Little Xavi" by his Nou Camp team-mates, is unhappy about of his lack of first-team opportunities with the Catalan giants and wants a fresh start.
But Thiago, 20, has made it clear that Stamford Bridge is his destination of choice if Barca boss Pep Guardiola can't guarantee him regular first-team football.
A source said: "Thiago is frustrated because his path to the first-team is blocked by Xavi and Andres Iniesta.
"His minutes on the pitch are limited while they continue to pull the strings in midfield, and Chelsea is his favoured destination if he decides to leave.
"He is also worried about the possible arrival of Cesc Fabregas, because that would put him further down the pecking order.
"It is another factor that has caused him to think about his future. Thiago believes that the style of football Villas-Boas will bring to Chelsea would suit him perfectly.
"And he will be an attractive prospect for Villas-Boas, who will take note of Thiago's desire to play for him."