The People reports that the Spaniards are ready to make a move for Coutinho, if they qualify for the knockout stages of the Champions League.
Atletico Madrid made their interest in Coutinho known in the summer, but that was quickly rebuffed by Liverpool.
But the Spanish side could make an bid for the 21-year-old in the January transfer window.
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Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.
Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.