The Blues are reportedly ready to offer up to ten times Josimar's current wage as they look to win a four-way Premier League battle for his signature.
Tottenham, Manchester City and Arsenal have also been linked with the teenage midfielder.
But reports from Spain claim that Chelsea hope to outbid their rivals for the Ecuadorian youngster. He's believed to be keen to leave Barcelona, with London his ideal destination.
The Nou Camp club will not be pleased to see Premier League clubs sniffing around their famed La Masia academy, but it's not unprecedented.
Cesc Fabregas left Barca for Arsenal before eventually returning several years later while Gerard Pique did likewise, initially leaving for Manchester United.
Under Spanish FA rules, clubs are limited in the amount of money they can offer their young players.
According to the Daily Star, Barcelona vice-president Josep Maria Bartomeu said: "Neither do we want to, nor are we able to compete. Our priority is to try and convince the player and his family that staying at Barcelona is the best possible option."