Current Blues boss Antonio Conte has been tipped to leave the club this summer following a mediocre Premier League season and failure to secure Champions League football.
Jokanovic, meanwhile, earned his second promotion to the top flight last month when his Cottagers beat Aston Villa in the playoff final, having previously gone up with Watford in 2015.
Fulham went from 12th in the table to a third-place finish via a 23-game unbeaten run in the second half of the 2017-18 season, which has reportedly impressed the Chelsea hierarchy.
According to respected Italian journalist Gianluca Di Marzio, Chelsea have already met with Jokanovic following his exploits with Fulham last term.
The report goes on to claim that Blues owner Roman Abramovich is fond of the 49-year-old and the fact that he also speaks Russian is seen as a bonus.
However, Di Marzio adds that at least one more meeting will be held with Jokanovic as some concerns remain over his experience.
The Serb also spent two seasons at Chelsea as a player, making a total of 46 appearances.