The Blues splashed out £23.3million on the Colombian international in January 2015 following two-and-a-half campaigns at Fiorentina, producing a return of 20 goals in 85 Serie A appearances.
But the 28-year-old registered just 13 Premier League outings for the Blues before returning to Serie A last summer in a Juventus loan deal.
The versatile South American, who can also operate as a wing-back, impressed in Turin, notching up four goals and five assists in 28 Serie A appearances.
The Italian champions are said to retain an interest in signing him in a permanent transfer, but Serie A rivals AC Milan have also been drawn to Cuadrado.
However, new manager Antonio Conte is an avid admirer of the 56-cap international, having attempted to sign him whilst serving as Old Lady gaffer.
And when quizzed on Cuadrado’s future at Stamford Bridge, the Blues boss replied; “Juan Cuadrado is a Chelsea player as I said with Diego Costa.
“He has worked very hard and is training very hard with us. Everyone knows what I think about him and everyone knows that good players have a lot interest in a transfer window.”