It has been reported by the British newspaper that Vardy earns £40,000 per week at Leicester and has a contract which runs until June 2018.
According to the report, Chelsea are planning a £30 million move for the England international striker, with Premier League rivals Tottenham Hotspur also claimed to be interested.
The Mirror claimed last month that Manchester United want to sign the 28-year-old in the January transfer window.
Vardy has been in superb form for Leicester so far this season and has been key in their climb up to the top of the Premier League table.
The former Fleetwood Town striker has scored 15 goals and created 20 chances in 17 league games for the Foxes so far this campaign.
The England international has a pass accuracy of 65% and a shot accuracy of 60%, and has won 49 headers, 15 dribbles and 18 tackles.