Moses, 24, joined Chelsea in the summer of 2012 having impressed with Wigan Athletic, but the Nigerian international has made just 23 Premier League appearances for the club since arriving three years ago.
The winger has spent the last two seasons on loan at Liverpool and Stoke City respectively, and he showed glimpses of what he can do with Mark Hughes' side last season.
Now back at Chelsea and with no future at Stamford Bridge, Moses is set for another loan move - this time to London rivals West Ham United.
Sky Sports report that Moses is set to join the Hammers before Tuesday's transfer deadline, giving manager Slaven Bilic a welcome boost in the final third.
The Croatian not only has few options out wide, limiting him to a narrow diamond system so far this term, but with a number of forwards out injured, Moses will be able to rectify some of those attacking problems at Upton Park.
Fans will still want to see a centre forward brought in, but Moses will bring some tactical flexibility to Bilic, and his pace out wide should be a welcome addition ahead of the transfer deadline.