Abraham has scored 16 goals for Villa this season but was left out of Dean Smith's squad for Saturday's FA Cup tie against Championship rivals Swansea.
The England global is presently on a season-long loan with Aston Villa but he is widely expected to be recalled with the Villains' west Midlands rivals prepared to offer him gametime in the Premier League.
It has been widely reported that Wolves are pursuing a permanent deal for the striker, rumoured to be for a fee of £18 million.
Maurizio Sarri wants Abraham to gain more experience in the top division, so it suits Chelsea to switch his loan deal to Wolves.
However, the Capital club are still prepared to allow another temporary move for their striker once they trigger the break clause in his loan contract at Aston Villa.
Chelsea can recall Abraham from his loan spell with Villa if they employ an option in the first two weeks of the January transfer window, but Smith chose not to dwell on talk about Abraham's likely exit from Villa Park this month.