The Portuguese newspaper claims Southampton's highly-rated youngster Luke Shaw and Wolfsburg's Ricardo Rodriguez are the other names under consideration.
But Lahm is the headline. The 30-year-old defender can play either full-back position and is widely considered to be among the best in the world in both.
Whether Chelsea have any real hope of signing the Bayern Munich star though - especially considering the history between the respective managers, Mourinho and Pep Guardiola - is another matter entirely.
The report claims the Germany international is simply the latest name to be linked with Chelsea, with Shaw, and Rodriguez in particular, more realistic targets.
Chelsea's current first-choice left-back Ashley Cole was dropped by Mourinho following the poor defensive performance against Stamford Bridge.
Spanish defender Cesar Azpilicueta has been preferred in subsequent matches against Schalke and West Brom, with Ryan Bertrand still a back-up.
But Mourinho has been linked with several full-backs, as the 32-year-old Cole is approaching the twilight years of his career at the top level.
He remains one of the most consistent players in the Premier League, but the Chelsea boss wants to make sure an alternative is in place. Lahm is thought to be one of his options, but we find that hard to believe.