The clubs are negotiating a fee between €20 million (£16.8m; $21.7m) and €25 million for the Denmark Under-21 international, who has a €45 million release clause at Villarreal.
Jorgensen has also attracted interest from Marseille, with the Ligue 1 club being his second choice for a summer transfer.
The 22-year-old has made 44 first-team appearances for Villarreal and secured the position of the club’s primary goalkeeper last season, helping them finish eighth in La Liga.
Earlier this week, The Athletic reported that Chelsea had identified Jorgensen as their top goalkeeper target for this summer, despite him signing a new five-year contract with Villarreal last month.
Chelsea's current goalkeeper, Djordje Petrovic, might be unexpectedly sold just a year after joining from MLS side New England Revolution. The Serbia international made 31 first-team appearances for Chelsea last season, stepping in after Robert Sanchez was injured in December.
Other goalkeepers in Enzo Maresca’s first-team squad include Sanchez, Marcus Bettinelli, and Lucas Bergstrom, while Kepa Arrizabalaga has returned to the club following a season-long loan at Real Madrid.
Jorgensen was previously capped for Sweden at youth levels up to the Under-17 team before switching allegiance to Denmark, where he has been capped at under-21 level.
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