Nicolas Jackson, a Villarreal forward, will have a medical for Chelsea this weekend in order to finalize his £30 million transfer.
Chelsea is negotiating the fee structure, with Todd Boehly looking to overhaul the Blues squad once more.
The 21-year-old Senegalese international scored 13 goals in his debut season with Spanish club Villarreal last season.
He scored nine goals in his last eight games, helping the Yellow Submarine finish fifth in La Liga.
The club is in need of forwards after struggling in front of goal last season, and Jackson will join Christopher Nkunku, who signed last week.
Midfielder Kai Havertz will also get physical over the weekend before confirming his move to Arsenal. On Monday, goalkeeper Edouard Mendy will undergo a physical with Saudi Arabian club Al Ahli.
Chelsea is shedding some undesirable players after suffering through a bloated squad last season, with new manager Mauricio Pochettino promising fewer players to handle. Meanwhile, the Blues, who are seeking £12 million for Wales midfielder Ethan Ampadu, are ready to loan out David Fofana and are resuming negotiations with Brighton over a deal for Moises Caicedo.
This summer, central midfielders have been a hot topic, with Caicedo and Declan Rice among the most talked-about players expected to go.
While Arsenal is keen on signing Rice, Manchester City is also keen on signing the West Ham captain.
Arsenal is interested in Rice and Caicedo but may have to settle for Romeo Lavia if the two players sign with City and Chelsea, respectively.