The Blues want to move fast to replace legendary midfielder Frank Lampard, who confirmed he was leaving Stamford Bridge yesterday.
Catalan newspaper Mundo Deportivo, who have a good reputation with close links to Barca, this morning claimed that the Blues had reached an agreement with Fabregas.
However, the clubs still need to agree a fee for the Spain star. It is believed Barcelona are holding out for £29.2m.
Manchester United, City and Arsenal have all been linked with the playmaker.
Fabregas was snapped in London last week and is now with the Spain squad preparing for the World Cup.
Mundo Deportivo claim that Fabregas' agent Darren Dein has been instrumental in bringing his client back to the Premier League.
Dein had sounded out all the big clubs to alert them Fabregas might be available after a trophyless season at the Nou Camp.
Fabregas reportedly would have preferred a move back to Arsenal but when it became clear that was not a possibility, he was eager to stay in London.
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