Chelsea boss Carlo Ancelotti is keen to sign the 29-year-old Brazilian in the January transfer window, but may be forced to wait until the summer.
Fabiano could end up costing the Blues around £24million after Sevilla recently blocked a £14million move to AC Milan for the striker.
Chelsea may be keen to sign Fabiano in January as they could be banned from signing players next summer by FIFA.
The Blues are ready to hand Fabiano a £100,000-a-week deal.