The Uruguayan ace only joined the Ligue 1 champions over the summer in a mega money deal from Napoli, but has already grown frustrated with life at the Parc des Princes and playing second fiddle to Zlatan Ibrahimovic.
As a result, he is keen to move on at the end of the season.
This has alerted the Blues, who are desperate to add a genuine world class forward to their ranks.
Jose Mourinho’s side were linked with Cavani prior to his switch to PSG, but were unable to compete on a financial level with the Parisians.
Yet they are confident of luring him to London next summer, despite interest from Manchester United.
However, in order to fund a deal Mourinho is set to sell Lukaku.
The burly Belgian is currently enjoying his second successive season away from Stamford Bridge on loan, and has been linked with an increased role at Chelsea once he returns from Everton.
However, ‘The Special One’ is said not to be Lukaku’s biggest fan, and is ready to cut him loose for around £23m.