The Brazilian, much like the rest of his teammates, has struggled for form this season, but that hasn't stopped the Old Lady from monitoring his progress for a third consecutive year.
A potential departure for Oscar would likely spearhead a mass exodus at Stamford Bridge following what has been a dismal title defence.
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Said rumours come after Juventus sporting director Fabio Paratici was spotted watching the 24-year-old in action against Paris Saint-Germain last week, during which Chelsea lost and exited the Champions League.
Any move for Oscar would likely involve the Blues vying to sign Paul Pogba in a player-plus-cash deal, the Frenchman a long-term target of Chelsea's. Juan Cuadrado is also due to return to west London after his season-long loan at the Juventus Stadium and he too could be used in a deal.
Juve manager Massimiliano Allegri has previously hailed the quality of Oscar and it appears such interested hasn't wavered, whilst Pogba is on the radar of several European giants.
Much could depend on Allegri's future, though, given the Italian is a candidate to succeed Guus Hiddink at Stamford Bridge this summer.
In what has been a frustrating season for Oscar, for the majority of which he has played second fiddle to the likes of Eden Hazard and Willian, he has scored just eight goals in all competitions, including a hat-trick against MK Dons in the FA Cup.
The Brazilian rebuffed approaches from the Chinese Super League to stay in England recently, but an exit this summer appears likely if his contributions don't improve.