The Newcastle United, Leeds United and West Bromwich Albion-linked striker is set to rejoin Crystal Palace, according to The Daily Mail.
Batshuayi impressed while on loan to Crystal Palace from Chelsea two seasons ago, scoring six goals in 13 games for the Eagles.
And interest appeared to be high after the Belgian entered the final year of his Chelsea contract, with Newcastle, Leeds and West Brom listed among his admirers.
But The Daily Mail claims Batshuayi will now sign one-year extension at Chelsea ahead of a return to Crystal Palace on a season-long loan deal.
Palace are said to be confident of landing the 28-year-old, after seeing another alleged target, Evanilson, join Porto on Monday.
Newcastle (Callum Wilson) and Leeds (Rodrigo), whose manager Marcelo Bielsa worked with Batshuayi at Marseille, have already signed strikers in the summer transfer window, while West Brom have been strongly linked with moves for Troy Deeney, Karlan Grant and Andre Gray.
Fans of Newcastle, Leeds and West Brom – have your side missed a trick with the £33 million Chelsea recruit?