The full-back, 28, emerged as a target for the Blues, who are looking to replace Ashley Cole, and the Brazilian’s performances this season have brought him to the attention of the London club.
Atletico’s defence conceded just 26 goals in 38 La Liga games as they won the title for the first time since 1996 and Luis was an integral part of that feat.
But Luis recently said that his thoughts were only with Atletico Madird and Brazil, where he is on the standby list.
Speaking to Brazilian newspaper O Globo, Luis said ‘I have a contract for three years. My thought is to continue.
‘We have to lift our heads high and think about the next goal.’
Luis played against Chelsea in the Champions League this season and has been tracked by the club throughout the season.
The defender moved to Atletico Madrid in 2010 from Deportivo La Coruna and has played for Atletico over 100 times.
Luis has been one of a number of players to impress with Atletico this season but despite his form Brazil coach Luis Felipe Scolari only gave the defender a stand-by spot for Brazil’s World Cup squad.
When asked about this Luis admitted he was confused saying ‘Sometimes I don’t understand the criteria for picking a national team player.
‘I don’t dream of winning the World Cup.’