Atletico want the Belgian to replace Diego Costa.
Chelsea frontman Romelu Lukaku is wanted by two Spanish club’s, according to The Mirror.
The 21-year-old Belgium international joined Chelsea from Anderlecht in August 2011, but he has since made just 10 Premier League appearances for the Blues, including nine as a substitute.
Lukaku has enjoyed successful season-long loan spells at West Bromwich Albion and Everton, scoring 17 and 15 goals respectively.
However, he does not seem to have done enough to impress Chelsea boss Jose Mourinho, who is apparently willing to sell him this summer, after the Blues complete a £32m move for Atletico Madrid forward Diego Costa.
Despite Mourinho’s indifference towards Lukaku, he is rated by many as one of the best players of his generation.
He is sure to attract much interest this summer, with a move to La Liga looking the most likely outcome.
Atletico reportedly want Lukaku on loan to help them cope with the loss of Costa, who scored 27 league goals in 35 matches this season.
Chelsea may prefer to sell him outright, though, and they could try to negotiate a part-exchange deal with Atletico to bring left-back Filipe Luiz to Stamford Bridge as a replacement for Ashley Cole, who was released last month.
Meanwhile, Valencia are said to be poised to bid £18m for Lukaku.