Okdiario says he has agreed a five-year deal with Real Madrid worth £270k-a-week.
Returning boss Zinedine Zidane is looking for a star to lead his force and Chelsea's No10 is the primary target.
The 28-year-old winger has agreed a five-year deal after speaking directly with Zidane.
Hazard's Stamford Bridge contract expires at the end of next season and the Belgium international has failed to agree an extension.
However, with the threat of losing the forward for nothing in 2020, Chelsea have put a £98million price tag on his head.