The Blues have reportedly agreed a fee in the region of £40million for the Frenchman, who is expected to undergo a medical with the London side on Friday.
Bakayoko racked up an impressive 52 appearances for Monaco last season as he helped lead Leonardo Jardim’s side to Ligue 1 glory and a Champions League semi-final.
The 22-year-old scored a header to knock Manchester City out of the European tournament’s last 16.
And with Nemanja Matic constantly linked with a move away from Stamford Bridge, Antonio Conte has been keen to acquire the midfielder’s services.
Ahead of his medical, Bakayoko has posted a video seemingly showing his best bits from his three seasons at Monaco.
Next to the video, Bakayoko teased Chelsea fans with “Coming soon.”