Brazilian forward Pato has agreed a three-year deal in principle with Chelsea ahead of his move to Stamford Bridge, according to the Daily Mail.
The former AC Milan ace is said to be close to completing a move as the Blues look to add bodies to their injury-hit forward line, with talks continuing over a fee.
His current club, Corinthians, originally wanted a £12 million fee, while Chelsea are hoping to negotiate that figure down to around £7 million.
The arrival of the 26-year-old could pave the way for Loic Remy to leave Stamford Bridge, despite denials from Chelsea that he's on his way out.
The former QPR forward has been linked with a switch to Spartak Moscow, although with Radamel Falcao injured and Diego Costa struggling for fitness, boss Guus Hiddink may be reluctant to let him leave before the window shuts later this month.
Talks were held between representatives of Chelsea and Pato on Tuesday evening and a negotiations have been progressing. Marina Granovskaia, director and close confidant of Roman Abramovich, has been leading the Chelsea delegation.
The Mail report that all parties hope to have the deal finalised by the end of the week, which could potentially mean the forward would be available for Chelsea's game against Arsenal at the Emirates Stadium.
Chelsea's poor campaign to date has been well documented, and a large part of their struggles are down to the fact that they've scored three less than they've conceded in the Premier League. Although Falcao took to Instagram to tell fans he'll be back 'soon' - that may well be for Monaco.
The Telegraph reports that the Colombian may complete a move back to his parent club during the current window, bringing a second disastrous loan spell in England to an end.