Chelsea boss Carlo Ancelotti is keen to sign the Spain international if their transfer ban is lifted, according to News of the World.
The Blues are appealing against the FIFA ban on signing new players and are looking to bring in new players if they win their appeal within the next month.
Didier Drogba, Michael Essien, John Obi Mikel and Salomon Kalou will all be missing for up to give weeks after Christmas due to the African Nations Cup.
Valencia have admitted they are now ready to sell Villa and all the major clubs around Europe have expressed their interest in the Spaniard.
