Mahrez has been given permission by Leicester to negotiate a move away from the King Power Stadium on deadline day.
Arsenal, Manchester United and Barcelona have all been tipped to sign the Algeria international in the wake of this development.
But The Sun say he is on his way to Chelsea instead and will become the Blues’ fifth summer signing after previous deals for the likes of Antonio Rudiger, Willy Caballero, Alvaro Morata and Tiemoue Bakayoko.
Manager Antonio Conte has supposedly convinced Leicester to let him go with a huge offer of £45million.
Mahrez was pictured with a fan in Paris after leaving Algeria’s training camp yesterday.
And The Sun say he was on his way to London to seal a move to Conte’s Premier League champions.
Mahrez came close to joining Roma earlier in the summer.
But the Serie A giants saw three bids rejected and were ultimately unable to secure his signature.
Arsenal were thought of as serious contenders up until recently with the future of Alexis Sanchez up in the air.
Sanchez remains on Manchester City’s radar today though Pep Guardiola’s side are yet to launch another bid after having a £50m offer knocked back.
However, Chelsea look set to sign Mahrez instead.
Once a deal is completed he will compete with the likes of Eden Hazard, Willian and Pedro for a place in Conte’s starting line-up.
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Chelsea expect to complete the £45m signing of Leicester City winger Riyad Mahrez today after seeing off competition from Barcelona and Arsenal.
The 26-year-old was given permission to leave Algeria’s training camp last night to resolve his future and Barcelona looked to be heading the race.
However, Mahrez was spotted in Paris and was believed to be getting a connecting flight to London where he will sign for Chelsea, according to the Sun.
Mahrez’s move to Stamford Bridge would be seen as a real coup for Chelsea and he’ll link-up with former team-mate N’Golo Kante.
Chelsea are hopeful of completing moves for Fernando Llorente, Ross Barkley and Danny Drinkwater on deadline day but Mahrez is expected to kick-off their spending.
The Algerian was crowned PFA Player of the Year after guiding Leicester to the league title in 2016 but struggled last season as the Foxes finished 12th.
Chelsea have spent around £145m so far this summer but lost the likes of Nemanja Matic, John Terry and Nathan Ake.
Leicester are already trying to reinvest the Mahrez money and have had a £20m bid turned down by Arsenal for Calum Chambers.
The Foxes are keen on Chambers and want to keep Demerai Gray, who would like to join Bournemouth.