Chelsea are hopeful of announcing the £30million capture of Porto striker Hulk in the next few days, according to the Evening Standard.
The Blues plan to hold more talks with the Brazilian forward in the next couple of days, but the two parties are thought to be close to agreeing a deal.
Hulk has an £80million buyout clause in his contract, but the Portuguese club are believed to be willing to settle for £35million, while Chelsea are confident of sealing the deal for £5million less.
The Blues, who are yet to appoint a permanent manager, watched the Brazil forward score two goals at the weekend as the South Americans beat Denmark 3-1 in Hamburg.
Despite publicly backing their £50million striker Fernando Torres, Chelsea are thought to be exploring possible transfer options, and the versatility of Hulk has made him their main target.
The Porto forward has the ability to play in several positions, including on the right-side of a front three or as a second striker, which would allow the Blues to fit Hulk and Torres into the same team.
Other targets are rumoured to include Atletico Madrid forward Radamel Falcao, Napoli striker Edinson Cavani and Real Madrid frontman Gonzalo Higuain as Chelsea prepare for life after Didier Drogba.
The Stamford Bridge side are also reportedly poised to complete the signing of highly-rated Lille midfielder Eden Hazard.
The Belgian has been courted by Manchester City and Manchester United but the Blues are thought to have beaten their rivals to the signing of one of Europe's most exciting young players.
Chelsea seem determined to add creativity to their side, with the signing of German attacking midfielder Marko Marin already announced. A £62million double deal for Hazard and Hulk would instantly propel Chelsea into a position to challenge for the Premier League next season, and excite the club's fans still jubilant from their maiden Champions League truimph.