The 19-year-old Belgian international is currently enjoying a season-long loan spell at The Hawthorns, having made an impressive start to the 2012/13 campaign, netting two Premier League goals.
Baggies boss Steve Clarke will be determined to keep the Blues youngster with him for the duration of the season, but speculation continues to mount that Di Matteo is ready to bring Lukaku back early, in a bid to strengthen his forward options at Stamford Bridge.
Chelsea currently have Fernando Torres and Daniel Sturridge as their only central striker options, and although the attacking midfield trio of Eden Hazard, Oscar and Juan Mata have provided sufficient support, there is a growing sense that the Italian needs to bolster.
The reigning European champions have now gone three Premier League games without a victory following Sunday's 1-1 draw with Liverpool in west London, with their lack of firepower and tendency to concede soft goals highlighted as the main problem.
Asked if a decision had already been made about Lukaku's future, Di Matteo said: "No, no. We'll have to see what's in the best interests of the club and the player.
"The transfer window is not open at the moment so we'll have to wait until January and then see."