The 24-year-old joined Chelsea in 2013 from Dutch outfit Vitesse but has featured in the Blues' senior setup just twice, spending the past four seasons on loan.
Van Ginkel scored seven goals from 15 appearances for the Eredivisie side last campaign, one goal fewer than during his first spell with the club.
According to Goal.com, final negotiations are taking place about whether Chelsea will accept a permanent package or let Van Ginkel sign on for a third loan spell at the Philips Stadion.
The report suggests that PSV cannot afford Chelsea's £10m asking price but they are willing to insert a favourable buy-back clause to bring the price down to around £6m.
If Van Ginkel is loaned again to PSV, the club will reportedly get an option to buy him at the end of the deal which would include the same buy-back clause.
Van Ginkel has spent time on loan at AC Milan and Stoke City in addition to his two spells at PSV.