The 19-year-old has caught the attention of manager Carlo Ancelotti with his performances for Genk over the last two seasons, making 36 appearances for the Belgian side.
De Bruyne's record at international level is impressive as well as he has managed 16 goals in 14 Under-19 games before he made his debut for the senior side last year.
Dutch side FC Twente had a £5million bid rejected by Genk last season as they hold out for double that amount and the Blues will have to stump up £10million for the prospect.
De Bruyne says he would be keen on a move to England and is flattered to be linked with the Blues.
De Bruyne: "Chelsea's interest obviously flatters me. It's a dream for me to play in the Premier League at one point in my career."