Hincapie is a priority transfer target for Chelsea after losing Levi Colwill to an ACL injury last week. The England defender will miss much of the season as he recovers from surgery.
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TMW says Chelsea will seek to buy a replacement, with Hincapie topping their shortlist.
On Friday night, Blues manager Enzo Maresca admitted: "It's a priority (a defensive replacement) because Levi is a fantastic player. What we achieved last season is because of him.
"He played all the games with me, I love him, we're going to miss him."
Hincapie featured for Bayer in Chelsea's 2-0 win on Friday.