But Leboeuf believes Chelsea have more than enough talent in Draxler's preferred attacking midfield position - although he does think he's an 'unbelievable' player.
"He's an unbelievable player," Leboeuf told Goal.com. "I saw him play last year and he's a real talent. But do I think Chelsea need a player like that? Not yet.
"They have the amount of players they need in that position. But in some ways it's a tactical market out there now, where clubs think 'I'm going to take the guy because I'm sure he's not going to play against us,' so it's tricky.
"I can understand that in case of injury, they might need to double or triple up in a position at Chelsea and still have the amount of quality in the substitutions."
Draxler certainly wouldn't be short of competition at Chelsea, with the club already boasting the likes of Eden Hazard, Juan Mata, Oscar, Andre Schurrle, Willian and Kevin De Bruyne - not to mention Victor Moses on loan.
But the 20-year-old has recently insisted he's happy at Schalke, regardless of the transfer speculation that continues to link him to Arsenal, Chelsea and other Premier League clubs.
He recently signed a new five-year contract - reportedly complete with a £38m release clause - although Schalke's general manager floated the figure of €70m for the young superstar during the final days of the summer transfer window.