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The Blues may however face competition from Manchester City, who view the winger as a potential replacement for Riyad Mahrez.
Mahrez is set to leave the Etihad having agreed a £34.7m move to Saudi Pro League side Al-Ahli.
But if City want Olise they’ll have to act quickly, with reports from RMC Sports in France claiming that not only have Chelsea made a bid but also that the player has been ‘seduced by the project’ at Stamford Bridge.
The 21-year-old has previously been linked with Arsenal, Liverpool and PSG, but back in April it was reported that he was willing to remain at Selhurst Park for one more season to continue his development.
Olise is one of the Premier League’s underrated young talents who has enjoyed a meteoric rise since joining Palace from Reading for £8m just two years ago.
Last season, he scored two goals, including a stunning free-kick against Manchester United, but more notably recorded 11 assists, a feat bettered only by Kevin De Bruyne, Mohamed Salah and Leandro Trossard.
Though an impressive player, it does seem strange that Chelsea would make a move for their former academy player given they already have Raheem Sterling, Noni Madueke, Angelo and even Nicolas Jackson in the right-wing position.
Moreover, Olise is currently out with a hamstring injury and will miss the start of next season.
Some have claimed that the French youth international has a release clause of £35m, but Palace reportedly removed that from his contract last November, with his deal set to run until 2026.
Furthermore, it seems highly unlikely that the Eagles will want to part ways with the forward, especially for a fee as low as what Chelsea have offered.
Alongside Eberechi Eze, Olise will be expected to spearhead Roy Hodgson’s attack next season, with Palace’s long-time talisman Wilfried Zaha now set to depart for good.
The 30-year-old club legend and free agent is in advanced talks to sign an £8m-a-year contract with Galatasaray in Turkey.
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