Corriere dello Sport says Loftus-Cheek is Lazio coach Maurizio Sarri's dream signing.
The midfielder was a regular during the Italian's sole season at Stamford Bridge - scoring 10 goals in 40 appearances in all competitions.
He will have just one year remaining on his Chelsea contract come the summer.
Lazio feel he has similar qualities to Sergej Milinkovic-Savic, who is a confirmed target for Manchester United.
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