Tottenham were thought to be leading the chase to sign the Internacional hot-shot, with new boss Andre Villas-Boas identifying Oscar as one of his top transfer targets.
However, Chelsea have now stolen a march on their Premier League rivals by tabling a €25million (£19.8m) bid for the Brazil international who will represent his country at the 2012 Olympics.
One of Oscar's agents, Carlos Meinberg Neto, has confirmed Chelsea have made an offer for the 20-year-old, but says no agreement has been reached between the clubs as yet.
"Chelsea did offer 25 million euros, but there is still no agreement between the clubs, that will probably happen within the next days," Neto told Terraa.
Neto also revealed he expects Oscar to choose a move to Chelsea ahead of Tottenham and that the move could be finalised in the next few days.
"Giuliano Bertolucci (Oscar's main agent) will travel to England to finalise the remaining details," he said.
"Tottenham also made an offer, but he should accept Chelsea's offer as there is more exposure there."
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