The Times says the Blues have slapped a world record £200million price tag on Hazard as they prepare for his probable move to Real Madrid.
The Belgian playmaker made it clear he wants to go to Real Madrid after his country's World Cup exit at the hands France.
Hazard, 27, is eyed as the ideal replacement and Chelsea are willing to let their main man pursue his dream, but only if they receive a world record fee.
The Blues believe Hazard is worth more than the £198m Paris Saint-Germain paid Barcelona for Neymar one year ago.
Hazard still has two years left on his contract and Chelsea have offered him £300-000-a-week to extend his deal at Stamford Bridge.