Lukaku was substituted after picking up a toe injury in the 2-2 draw against Arsenal at the weekend, but the Toffees' boss said they will keep assessing their record signing.
He's quoted by the Everton website, saying: “Romelu, we will keep assessing him. He has reacted well in the 48 hours after the game.
“At the moment it is too early to know if he will be available at the weekend but I am quite positive with Rom.”
If Lukaku is fit enough to play at the weekend, it will be the first time he will face his former club since he secured a £28 million move to Merseyside after a successful loan spell at Everton last season.
Martinez will be hoping for Lukaku to be available in order to give his side a big presence going forward as they look to repeat their heroics of last season, where a Steven Naismith header was enough to give the home side all three points in an early season encounter.
They didn't have him available for the fixture last season, but the option of having more power at their disposal to test the Chelsea defence will be a welcome one for the Everton boss.
The Belgian has yet to get off the mark this season but had a big hand in Everton's second goal against the Gunners after his powerful run and deft pass allowed Naismith to score his second in two games.
Midfielder Steven Pienaar will miss the game, however, after limping off in the first half of the weekend's draw with Arsenal with a groin problem, but Martinez has said that Darron Gibson is available, whilst Arouna Kone and Bryan Oviedo remain sidelined.
How big a factor is Lukaku's fitness ahead of Everton's clash with Chelsea?