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The France international is being touted as the ideal replacement for the injured Ben Chilwell at left-back, according to Tuttosport, via Football Italia.
Hernandez is under contract at the San Siro until June 2024 and discussions have already begun to extend his stay at the club for a further two years, with a pay rise.
Milan are clearly keen to keep hold of the 24-year-old, claiming that only an offer in the region of €60 million would convince them to part ways with one of their most-prized assets.
He arrived in Italy from Real Madrid for a fee of around €21 million, and has established a reputation for being one of the finest full-backs in Europe.
Paris Saint Germain and Manchester City have previously been linked with Hernandez, with the former trying to sign the Frenchman last summer.
The defender has made a total of 20 appearances across all competitions for the Rossoneri, scoring two goals.
Chelsea would welcome any fresh faces right now following a frustrating run of form which has seen Thomas Tuchel’s side win only one of their last four Premier League games.
The Blues were most recently held to a 1-1 draw by Brighton & Hove Albion on Wednesday night - a result which left the west Londoners eight points adrift of league leaders Manchester City.
Tuchel’s team return to action on Sunday when they welcome fellow title contenders, Liverpool to Stamford Bridge.
This match comes three days before their Carabao Cup semi-final first leg against Tottenham Hotspur next Wednesday.
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