The Belgium playmaker hasn't featured in the Premier League since September and is expected to leave Stamford Bridge when the transfer window opens this week.
De Bruyne signed for Chelsea in 2012 for approximately £6.7million but then continued to develop and play well on loan at Werder Bremen, scoring 10 goals in 33 appearances for the German side.
This season has seen the Belgium struggle to break into Jose Mourinho's midfield, raising concerns about his inclusion in a first World Cup for his nation since 2002.
De Bruyne is a talented player, there's no questioning that. The likes of Wolfsburg, Bayer Leverkusen, Shalke and even Champions League runners up Borussia Dortmund are rumoured to be interested in the playmaker
With an exquisite eye for a pass, De Bruyne is a a very creative player that has technical ability and flair.
Malaga are reportedly the latest club to enter the race to get the 22-year-old Belgium on loan, however De Bruyne has reiterated his desire to return to the Bundesliga, after his season long loan at Werder Bremen last year.
The Spanish club have struggled since having financial difficulty, which ultimately led to a squad clear-out and a lowly 10th place in La Liga this season.
De Bruyne would give Malaga that flair and creativity back that they used to have, through the likes of Santi Cazorla before he moved to Arsenal.
If De Bruyne does leave London this January transfer window, Dortmund or Bayer Leverkusen could be plausible destinations, with the starlet hoping to gain regular first-team football in order to earn a seat on the plane to Brazil.
There is a lot of talk about Belgium's World Cup chances, with pundits fancying them to cause a real upset in the South American showpiece.
De Bruyne will not want to miss out on this experience and so will be looking to gain first team football as soon as possible.