Brazilian will spend the new campaign at San Siro, before returning to the Blues next summer.
Serie A giants Inter Milan have confirmed that they have signed Chelsea defender Wallace on a season-long loan for the upcoming campaign, according to reports on Tuttosport.
The promising Brazil Under-20 international only arrived at Stamford Bridge last December from Rio-based outfit Fluminense, although as part of the deal the 19-year-old was immediately loaned back to his parent club to spend the remainder of the season back in his homeland.
And the attack-minded full back did not even make his debut for the west London club until last month, when Wallace featured in a pre-season friendly against the Singha All Stars, with the Brazilian even creating a spot kick with one of his characteristic driving runs into the opposition penalty box.
However, with the Blues already well staffed for players in the right-back role in the capital next season in the form of both Spaniard Cesar Azpilicueta and Serbia international Branislav Ivanovic, returning Chelsea head coach Jose Mourinho has decided to allow the youngster to leave the Bridge this summer, albeit on a temporary basis.
And now Wallace will get the chance to experience life in Serie A with one of the Portuguese’s former clubs, while also gaining valuable game time in Italy.