The Sun says the Belgian striker, 26, is to be offered an extension to avoid him walking away for nothing next summer.
No clubs who can afford Batshuayi have shown an interest in this window, so Chelsea hope by giving him a further year he can go out and increase his value.
The terms could see Batshuayi get a £15,000 rise to £100k-a-week — a lot of money for a player down the pecking order under manager Frank Lampard.
However, any club taking him on loan would be asked to pick up the tab and pay most of that salary for a season.
The news has put Crystal Palace, West Brom and Newcastle on alert.
They could not afford to buy him but now they could loan him.