By Wayne Veysey | Chief Correspondent
The Stamford Bridge club have agreed a fee of £6.7 million with the Belgium outfit and he will then be loaned back to Genk for the rest of the season.
It is understood that the 20-year-old attacking midfielder will sign a five-and-a-half year contract with Chelsea.
De Bruyne will become the third Belgian youngster to join Chelsea in the last six months, following the arrivals of Romelu Lukaku and De Bruyne’s former Genk team-mate Thibaut Courtois last summer.
The two clubs came to an agreement last night following weeks of negotiations and the winger flew into London in the last 24 hours to put the finishing touches to the move.
Andre Villas-Boas revealed last week that the pursuit of De Bruyne was being driven by others at Stamford Bridge as part of the club’s policy to target and recruit young players for the future.
“It’s not within my immediate projects. It’s a target that’s decided by the club, that I knew about for quite some time,” said Villas-Boas. “He was under the scrutiny of the club for some time, we’ve been following this player.
"Romelu Lukaku the same, and Petr Cech was the same when we arrived in 2004. In the sense that the club policy for the future, it’s the right thing [to buy him] and I’ll do everything in my power for him to reach maximum potential.”