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Juventus chief executive Guiseppe Marotta has said the club are on the verge of signing the former Fiorentina player.
Cuadrado only moved to Chelsea in February for £23million but the Colombia international could soon be heading back to Italy.
Marotta was speaking before the match against Udinese and told Sport Mediaset: “Cuadrado will arrive on loan. It could be made official as soon as tomorrow.”
The 27-year-old made four league starts last season and speculation about his exit from Stamford Bridge mounted after his absence from the squad for today’s victory at West Bromwich Albion.
The arrival of Pedro from Barcelona for £22million earlier this week has further dented Cuadrado’s chances of becoming a regular feature for Chelsea this season.
Reports emerged on Friday evening, the Blues had made a £60million offer plus Cuadrado and Ramires for Juventus midfielder Paul Pogba.
Chelsea manager Jose Mourinho is keen to bolster his options in the middle of the park and is keen on signing the France international.
Juventus initially rejected the offer, according to some reports however other accounts say the Old Lady are considering the offer but would prefer Oscar instead of Ramires.
The Italian outfit has already seen Arturo Vidal and Andrea Pirlo leave the club and are desperate to avoid losing another key midfielder.
Written by Jack Wynne – @JackRobertWynne