Loftus-Cheek had been tipped to make an impact at Chelsea after Antonio Conte's arrival at the club, but each of his four starts this season have come in cup competitions.
According to the London Evening Standard, the 21-year-old is keen on securing first-team football elsewhere for the next campaign, with chances in the Blues XI likely to be few and far between.
A number of clubs - including Brighton - were said to be interested in the England Under-21 international in January, only for Conte opting to keep the player as backup.
However, it has been suggested that Conte may be willing to loan out Loftus-Cheek to another Premier League side, and Brighton could fit the bill.
Manager Chris Hughton is looking to strengthen his squad after they secured promotion to the top flight.