According to The Sun, Chelsea are one of several clubs “keeping tabs” on the 20-year-old attacker.
It is explained the Blues are joined by Arsenal, Everton, Lille and Bayern Munich in watching him.
The report says Chelsea were keen on his signature last summer, too. He ended up completing a move from Championship club Reading to Selhurst Park, though.
Olise, who was released by Chelsea at the age of 14, is now impressing during his first taste of top-flight football in England.
The right-winger’s scored four goals and made six assists in his opening 20 Palace appearances this season across all competitions.
He’s been earning real plaudits for his performances this season. For example, Gary Lineker called him “very gifted” as recently as last month.
Olise, who can also play in a creative number 10 position, looked impressive in Palace’s 1-0 defeat at home to Chelsea on Saturday.
Evidently, Chelsea’s main area to improve is at the top end of the pitch.
If things continue as they are, it’ll be intriguing to see if Blues manager Thomas Tuchel is given the licence in the summer window to transform his attacking options.
It may be a bit premature to put forward a raw talent like Olise and expect him to completely solve the bluntness in attack.
However, he looks like a young star that got away and speculation of re-signing him makes sense.
Patrick Vieira’s Palace side is turning out to be the place to be for emerging young talents, with Chelsea loanee Conor Gallagher one of several to be flourishing this season.
For Olise, he’s got the perfect home to develop his game at Premier League level. However, the big clubs appear to be knocking on the door for someone with immense potential