The Argentine, who has three goals to his name this season, is considered to be one of Ligue 1’s brightest attacking talents and has been a big hit at the Stade Louis II during their big money era.
His electric displays are understood to have attracted Jose Mourinho, who is keen to bolster his frontline this winter as he plots to keep his Blues side’s title charge on course.
The 20-year-old is believed to be ready to leave Monaco this winter after watching big name duo Radamel Falcao and James Rodriguez depart over the summer amid fears that he will be unable to progress as a player on the Mediterranean coast.
Ocampos reportedly cost the Ligue 1 heavyweights around £12m just over two years ago, and it’s likely that they’ll demand a significantly higher fee to see him leave.
The South American is able to play all across the forward line and has been lauded for his neat skills and easy on the eye playing style.