The 18-year-old's short-term future had been the subject of speculation after Swansea manager Brendan Rodgers claimed that a deal had been agreed.
However, Chelsea delayed their final decision while manager Andre Villas-Boas assessed whether or not the youngster would be needed during the latter stages of the season.
The decision has now apparently been made, though, as McEachran confirmed his move on Twitter.
"I've finally found out about my loan! Off to Swansea on monday!!" he said on the social networking site.
McEachran made his Chelsea debut in the Champions League in 2010, becoming the first player to play in the competition who was born after it started.