Sao Paolo Brazilian striker Lucas Piazon
The Premier League champions say the 17-year-old attacking midfielder has signed "a pre-contract agreement and is expected to join us in January 2012 on a long-term deal."
Chelsea, which already has Brazil internationals David Luiz and Ramires on its books, did not reveal any financial details of the transfer.
Piazon is currently representing Brazil at the South American under-17 championship in Ecuador, having finished top scorer in the under-15 tournament in 2009 when his team finished runners-up.
Short link: