Jose Mourinho will look to revamp his squad this summer as he looks to strengthen his side.
And Calhanoglu is a player interesting the Stamford Bridge club.
The Turkey international has been watched extensively by Blues scouts this season. He has been a rare bright spark in a largely disappointing season for Hamburg.
He has been coveted by a number of European clubs, including Liverpool and Arsenal.
Preliminary discussions with regards to the interest have already taken place, with Chelsea understood to value Calhanoglu at around £7.5million.
However, Hamburg want in the region of £12million for the talented attacker.
Calhanoglu will look to leave Hamburg in the summer and has informed his advisors to find him a new club, with UK-based agent Muzzi Ozcan working on a deal to bring the 20-year-old to England this summer.
Calhanoglu’s impressive displays have drawn comparisons with Arsenal midfielder Ozil, who is also of Turkish descent.