Ex-Napoli manager Maurizio Sarri is expected to take over from Conte, who took pre-season training this week.
The club have refused to comment on the status of the 48-year-old, who won the Premier League title in his first season and the FA Cup in May.
Sarri will become Chelsea’s ninth full-time manager since Roman Abramovich bought the club in 2003.
The incoming Sarri finished second, third and second again behind Juventus in 2017-18. The former Empoli manager was named Serie A Coach of the Year in 2016-17
Conte’s mark of 30 league wins in the 2016-17 campaign was a record until Manchester City produced 32 in 2017-18
His league win percentage of 67.1% is better than Sir Alex Ferguson’s 65.2% and only bettered by Pep Guardiola’s 72.8% in the Premier League
In all he won 69 and drew 20 of his 106 games in charge of the club
Chelsea midfielder Cesc Fabregas on Twitter: “Thank you Mister for another Premier League title and FA Cup. It wasn’t easy for me to convince you in the beginning but in the end I hope I did you proud! Good luck for the future.”