The former Arsenal striker will be allowed to leave Barcelona after just one disappointing season at the Nou Camp and one newspaper claims that his favoured destination would be Stamford Bridge.
Henry joined Barca last summer for £16million but he has so far failed to find top form in Catalonia as Frank Rijkaard's side have endured a frustrating season.
Barca have only won four of the last 16 games, and Real Madrid have ran away with the Spanish title.
Didier Drogba - a target for both Inter Milan and Real Madrid - is expected to leave in the summer and Henry is seen as the ideal replacement.
Henry still has three years remaining on his Nou Camp contract.