The deal could be completed in the coming days, with the BBC claiming he will have a medical at Stamford Bridge today (Friday) ahead of a £15 million transfer.
The 24-year-old came extremely close to a move during the summer transfer window, with Chelsea the main horse in the race.
The Blues have the Premier League, Champions League, FA Cup and Carabao Cup to contend with.
Tottenham have been monitoring Barkley's situation but Sky Sports suggest the North Londoners have made a decision to end their interest with Mauricio Pochettino now looking at alternative targets.
Barkley set for Chelsea medical
The England worldwide is believed to be in London to negotiate terms with the reigning Premier League champions, despite having turned them down last summer.
The Blues have reportedly re-opened talks over a move for Barkley, but Everton are yet to agree.
"I expect there would be some interest some time in this window if there's going to be any interest from one of the big boys".
They would also argue that with Barkley out of the side this season, his absence has not hampered their performances - particularly since Allardyce took over from Koeman.
It will mean the player is leaving Goodison Park after 13 years, having joined Everton as an 11-year-old in 2005.
Florida's minimum wage is increasing in 2018, but is it enough?
And that is the same rate for smaller companies with annual gross receipts of $305,000 or less per year, after January 1, 2018. A group is circulating petitions to put raising Michigan's minimum wage to $12 an hour by 2022 on the November ballot.