The Belgian has been involved in a transfer merry-go-round with Pierre-Emerick Aubameyang and Olivier Giroud, with Dortmund unwilling to allow the former to join Arsenal until they had a replacement lined up.
However, the Gunners have now confirmed the arrival of Aubameyang, seemingly opening the door for Batshuayi to join Dortmund and Giroud to replace the Belgian at Chelsea.
Sky Sports News now reports that Batshuayi has agreed terms with the Bundesliga outfit, but also has the option of a loan deal with La Liga club Sevilla.
Any deal would be a six-month loan without an option to buy at the end of the season, although Batshuayi will not be allowed to leave unless Giroud arrives at Stamford Bridge.
Batshuayi took to Twitter to post a cryptic message amid the speculation.
🦇🌑🌕 ... 👀— Michy Batshuayi (@mbatshuayi) January 31, 2018
Batshuayi joined Chelsea in 2016 and has scored 19 goals in 53 appearances for the club across all competitions.