The Blues had a bid for the England U-21 star turned down in January, but are now edging closer to landing their man after opening talks with the south coast club over a summer move.
on TwitterShaw, who admitted he was a Chelsea fan recently, has impressed since breaking into the Southampton first team earlier this season and is viewed the latest in a long line of talented youngsters to emerge from the famed Saints academy.
Despite the fact that Ashley Cole recently landed a one-year contract extension to keep him at Stamford Bridge until 2014 and the presence of fellow promising youngster Ryan Bertrand, Chelsea are keen on securing the services of the 17-year-old, and could loan him back to Southampton for next season in order to get the deal done.
Chelsea's willingness to wrap up a deal for Shaw could be because of Arsenal's reported interest in the young full-back.
Gunners chief scout Steve Rowley and Arsene Wenger have reportedly made Shaw one of their top targets for the summer, and are hoping to add him to their squad alongside fellow Southampton graduates Theo Walcott and Alex Oxlade-Chamberlain.
Shaw pledged his long-term commitment to Southampton in January, and could snub a move to Chelsea or Arsenal and sign a five-year deal on his 18th birthday.