The Blues have been dedicated to securing top-tier talent in all positions this summer through their rigorous recruitment efforts.
While a lot of their focus this week is on outgoing moves, The Mirror states that Araujo is the subject of interest.
The 22-year-old Portuguese defender is one who the Blues believe can become an immediate starter.
Paris Saint-Germain have also been keeping tabs on his situation, as they seek to move on from Milan Skriniar.
Benfica have already worked with PSG this summer, selling them Joao Neves.