Conte who led the Blues to the Premier League crown in his first season in charge of Stamford Bridge is known to be missing his homeland.
While their have been deep divisions with Blues top brass about what he feels was a lack of support in the transfer market last summer.
The club missed out on a series of Conte's transfer targets and it could end up see them changing manager for the 15th time since Claudio Ranieri left the club in May 2004.
Conte came close to leaving the club just weeks after winning the Premier League title and the only thing that stopped him was a sharp financial penalty.
He has since come under fire for his handling of the Diego Costa fiasco whom he dumped by text message and then the club struggled to sell.
The former Italy boss is only under contract to the Blues until 2019 and has already refused to extend it any further.
Conte recently told Italian radio "Italy is my homeland. I'll be back. I don't know when but that's the aim," and it could be much sooner than anyone at Chelsea thinks.
He won't have any problems finding another job in his homeland with both AC Milan and Inter Milan who wanted him back in the summer already mentioned as probable destinations.