Barbosa was at Flamengo for the first half of this season as he completed a loan at the Brazilian outfit.
He scored two goals in the last two minutes of the Copa Libertadores final against River Plate to help Flamengo snatch victory from the jaws of defeat.
Barbosa is affectionately nicknamed 'Gabigol' as a result of his prolific goalscoring in his native Brazil.
The 23-year-old has scored 70 goals in 112 appearances for both Flamengo and his former club Santos.
It's believed that Frank Lampard has made the signing of a proven goalscorer a priority this month.
The Blues were thought to be chasing RB Leipzig's frontman Timo Werner, but it looks unlikely any players will leave as the club chase down a first Bundesliga title.
Chelsea are also reportedly keen on Borussia Dortmund's Jadon Sancho, but it's understood Barbosa takes priority.
Inter Milan are open to a deal as they look to add back-up to Romelu Lukaku and Lauturo Martinez, rather than further competition.
In fact, Inter boss Antonio Conte is reportedly keen on taking Olivier Giroud from his former club - with the Frenchman also angling for a move away.
Chelsea are believed to have a transfer kitty of around £150 million this month.
But the club are also keen to add a left-back and a central defender, so they'll need to be smart with their budgeting.
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