Torres has pledged his future to Liverpool but if they fail to qualify for the Champions League they could be ready to cash-in on the Spaniard.
Chelsea boss Carlo Ancelotti is a huge admirer of the 25-year-old, according to the Sunday Mirror.
Ancelotti has ruled out a move for Atletico Madrid striker Sergio Aguero and has instead put Torres at the top of his wanted list.
Torres’ current contract with Liverpool is set to expire in 2013.
