The defensive midfielder, who measures in at a whopping 6 foot 4, was a key member of the Blues squad that lifted the 2014/15 Premier League title under Jose Mourinho.
But the Serbian international seriously struggled for form last season and there has been suggestions that could move on during the summer window.
The Blues are reportedly looking to broker deals for Leicester City enforcer N’Golo Kante and Belgium midfielder Radja Nainggolan, leading Juventus to presume Matic could be bumped down the pecking order.
Accordingly, the Old Lady are ready to table a £17million bid – worth £4million less than the west Londoners paid for the 27-year-old back in January 2014.
Other sources have claimed Premier League rivals Manchester United are also targeting the former Benfica man, who lifted the Primeira Liga title during his two-and-a-half campaigns at Estadio da Luz.