The Colombian has so far failed to settle at Stamford Bridge and a return to Italy could be in the pipeline.
The 27-year-old joined the club from Fiorentina in January in a move which saw Mohamed Salah go the other way on loan.
While the Egyptian has enjoyed a stellar spell in Italy, Cuadrado has had anything but a good time in England, making just four Premier League starts and failing to register a goal or assists in his time so far.
Manager Jose Mourinho admitted to the club’s official website in February that the winger would need time to adapt in England, suggesting that “we will see the best Cuadrado next year.”
However, the player’s representatives are set to hold talks with the club, according to the paper, as they look to establish the role he will be playing next season having only featured on the bench this season.
If a move away from Stamford Bridge were to materialise, it is thought the player would be open to a return to Italy.
Cuadrado was very highly rated in Serie A prior to leaving Fiorentina for £26 million and there may be a number of potential suitors there if his valuation drops significantly.