Jose Mourinho has come under increasing pressure and former managers have been linked with a return to the club.
Speculation has been gathering pace surrounding the manager's job at Stamford Bridge with Jose Mourinho coming under increasing pressure following a poor start to the season which sees the Blues sitting in 15th place with 11 points after 10 games - nine points behind the top four and 11 points off the pace in the title race.
The Telegraph also reports that fellow former manager Carlo Ancelotti would not be interested in the role on a short-term basis, and that his sacking from the club in 2011 a year after delivering the double.
Some would see the speculation surrounding Jose Mourinho's future as odd only five months after winning the club's fourth Premier League title in 10 years.
But the nature of the start to the season and a string of disciplinary misdemeanours seem to have contributed to the Portuguese coach's position becoming some perilous with one report from the Daily Mirror suggesting that senior players believe it is only a matter of time before he exits the club.
If Mourinho does head for the exit door in the near future, it is hard to see who the owner Roman Abrahamovich will appoint, especially if he is after a big name. Pep Guardiola's name is mentioned but he would not be available until the summer if he were to leave Bayern Munich.
Hiddink is available but it is important to note that came about as a result of his resignation as the Netherlands during a disastrous Euro 2016 qualification campaign, ultimately resulting in the Dutch squad missing out on the finals in France - so his stock isn't the highest at the moment. However, he is a man that knows the club having won the FA Cup during his spell in charge in 2009.
If the Telegraph's report is anything to go by, if Mourinho were to head for the exit in the immediate future then the club may opt for a replacement on a temporary basis and probably wait for the availability of Pep Guardiola.
However, the club is still competing on four fronts, and stringing a few wins together could go a long way to relieving the pressure and Mourinho remaining in charge.