The 48-year-old Italian is expected to lose his job at Stamford Bridge this summer despite leading the club to an eighth FA Cup triumph on Saturday, where the Blues beat Manchester United 1-0 at Wembley.
According to the Evening Standard, the Stamford Bridge hierarchy have identified the Cottagers manager as a possible alternative to Conte, with the Premier League outfit impressed with his efforts at Fulham.
The former Blues midfielder, who played for Chelsea between 2000-2002, is on the verge of taking his side back to the English top-flight - with the west Londoners facing Aston Villa in the Championship play-off final this weekend.
The Blues board are said to admire Jokanović's achievements whilst working under a restrictive transfer budget, while still offering an attractive and free-flowing brand of football. The 49-year-old has 12 months left on his current deal at Craven Cottage, although there is not thought to be a release clause in his contract.
The Serbian is not the only target Blues owner Roman Abramovich has in mind, with Napoli's Maurizio Sarri emerging as a leading candidate in recent weeks. The Blues will be forced to pay a £7m compensation fee should they opt for the 59-year-old Italian however, leaving Jokanović as a significantly cheaper, and viable candidate.
The Naples-born tactician is seemingly ready to leave his hometown club this summer though, with president Aurelio de Laurentiis insisting that negotiations over a new deal have broken down.
“There is no more time for Sarri, he didn’t answer. Ask him. He has always just sent me to Alessandro Pellegrini (the coach’s agent), he never gave me an answer. I have to take responsibility. At some point, we have to move forward. I’m not saying he will leave. There is a release clause; we’ll see what will happen.”
Sarri himself has also indicated his time is up with the club, stating after Napoli's 2-1 win over Crotone at the weekend that 'in life, everything comes to an end'.