The Stamford Bridge outfit made major additions to their attack in the international transfer window, landing Timo Werner, Kai Havertz and Hakim Ziyech.
Chelsea also have United States international Christian Pulisic in their ranks, but could move to bring Dybala in.
According to Italian outlet Tutto Mercato, the Blues have placed the Argentina international on their radar and are mulling a move for him.
With a keen eye on the 26-year-old, Chelsea are monitoring his contract situation at Juventus, who are looking to tie the player down to a new deal.
The Bianconeri have held talks with Dybala, whose current contract ends in 2022, over a new deal that would keep him at the club until 2025.
Further progress could take place over the course of the next week and Chelsea are keeping a close eye on the developments at the Serie A club.
If Dybala does pen a new contract then Chelsea may be unlikely to try to sign him, but if he does not sign a new deal then next summer he will have only a year left on his contract in Turin.