The Belgian has a reported £22m escape clause in his contract with Everton, which is available to teams competing in European competition.
It’s believed that this was written into his deal when it was extended in 2011, with the player keen to perform on the biggest stage in club football.
Chelsea are said to be highly interested in the 25-year-old and see him as the ideal long-term replacement for Frank Lampard, who is set to leave the club at the end of the season.
Arsenal are also thought to be in the race, after being impressed by Fellaini’s recent performances.
The ex-Standard Liege man has been in fine form this term, with manager David Moyes utilising him in a position just behind the striker.
He has weighed in with nine goals in 18 league games, attracting the attention of many top clubs.
Fellaini arrived at Goodison Park in 2008 from his homeland in a £15m deal.
He has gradually improved season-by-season, but has really evolved during the start of the current campaign.
Despite his level of ability there are concerns regarding his temperament after he received a three-match ban for head-butting Stoke’s Ryan Shawcross.