The European champions have been chasing the playmaker for several months, while Tottenham also wanted the 20-year-old.
Chelsea were said to have failed in a previous £20m bid for Oscar, but Sky Sports News understands the Blues have succeeded with an improved offer.
A transfer could now be finalised, despite the playmaker's agent having previously claimed a move to Stamford Bridge was looking increasingly uncertain.
Oscar is expected to arrive in the United Kingdom on Tuesday with the Brazilian Olympic team.
The youngster, capped six times for his country, is regarded as one of the best young talents in Brazil.
Borussia Dortmund hears Wembley Calling and are headed to London for the Champions League final.
One of the top soccer cleats for control the Nike CTR360 will not let you down on the field in tight spaces.
Ajax has released their away soccer jersey for the 2013/14 season. Get in the Gear.
Chelsea won the Europa League on Wednesday. The Blues defeated Benfica 2-1 on injury time goal from Ivanovic.
Bayern Munich are kings of Germany and hope to be crowned kings of Europe at Wembley later this month!
The Juventus jersey for the 2013/14 was released earlier this week. Be the first to wear the colors of the Old Lady.
The push for more color on their cleats, adidas has added the infrared colorway to the adiZero f50 Line.
The adidas Nitrocharge is the most talked about new cleat in years. It was released on May 15 and will take your pitch by storm.
The Liverpool 2013/14 soccer jersey is available for pre-order. The Reds are eager to compete for silver next season.
The new PUMA evoSPEED 1.2 FG. A great new soccer cleat with classic look and first time for PUMA to be on the cleat.