According to BBC Sport, the Blues were impressed with the 21-year-old's performances last season for the Toon, where his goal haul helped fire them back into the Premier League and lift the Championship crown.
Carroll bagged 19 goals in 35 games for Chris Hughton's side, and Chelsea are apparently willing to pay a sizeable fee for the England Under-21 international.
With Nicolas Anelka and Didier Drogba both over 30 years of age, manager Carlo Ancelotti is keen to add young firepower to his squad in a bid to unearth long-term replacements for the duo.
The Italian signed Manchester City striker Daniel Sturridge last summer and is rumoured to be looking at other promising 'homegrown' stars this time around.
Any move for Carroll could be stopped by Newcastle owner Mike Ashley, who is being extra careful not to upset supporters by selling their most highly-rated player.
Ashley already has a strained relationship with the Magpies' supporters, after they blamed him for their team's relegation from the Premier League 12-months previous.
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