Blues boss Jose Mourinho has already confirmed such plans this week.
Chalobah said: "He (Mourinho) has already told me he likes me and he likes what I'm doing, but he reckons another year out is probably the best decision. A loan is probably the best move at the moment.
"Chelsea's where I want to be. It's probably best to play around the same level, in the same league.
"The Premier League is probably where I'll be looking to go this year.
"It's up to me and up to the club to find a place for me where I can get a chance to play, because I don't want to go to another Premier League team and sit on the bench."