The 21-year-old winger has been heavily linked with a move away from Palace this summer due to interest from top clubs.
Manchester City have been keeping tabs on him but Chelsea are the ones who are now pushing to get a deal over the line to sign him.
According to Italian journalist Rudy Galetti, the Blues are in advanced talks with Crystal Palace to take Olise to Stamford Bridge this summer.
Chelsea are big admirers of the winger and are now pushing to secure his signature in the ongoing window.
Olise is keen on the move and has verbally agreed to personal terms on a contract with the west London club.
Crystal Palace are reluctant to sell him but are forced to allow him to speak to suitors if they receive a bid of a guaranteed £35m.
Chelsea are now applying pressure on Palace to let Olise move to Stamford Bridge in the ongoing transfer window.
