Stamford Bridge side chase Real Madrid midfielder.
The 23-year-old moved to the Bernabeu from Malaga two years ago and is also a Man City target (Via the Daily Express).
Fichajes claims that Mourinho has made the Spanish international a top transfer priority and that he would cost around €50m (£35m).
Chelsea eased to a Premier League title in 2014/15 but were not so convincing in Champions League action and Isco could offer Mourinho a further creative midfield option.
Neither Oscar nor Willian made big impacts in the final third last term, the Brazilian managing eight goals and 11 assists between them, and Isco could offer strong competition to the Blues stars.
Man City’s interest is perhaps not surprising given that Etihad Stadium boss Manuel Pellegrini worked with the Real Madrid star during their shared time at Malaga.
Real Madrid paid £23m for Isco (via the BBC) and the Fichajes valuation of the player would offer the Spanish giants to secure a decent profit on their outlay.
Last summer’s signings of Toni Kroos and James Rodriguez have significantly boosted options available to Rafa Benitez and the newly appointed manager will be sizing up his squad during pre-season activities this summer.
Isco has made 106 appearances for Real Madrid, netting 17 goals in the process.