The 19-year-old is understood to be in London for a medical ahead of a $8.61 million switch to Stamford Bridge from Atletico Paranaense.
Nathan, an attacking midfielder, sparked interest from a number of European clubs after an impressive display at the 2013 Under-17 World Cup in the United Arab Emirates.
The transfer, however, would be subject to Home Office approval on a work permit for the Under-20 international, as Chelsea aims to add Nathan to fellow Brazilians Willian, Ramires, Filipe Luis and Oscar in its squad.
Chelsea may decide to send Nathan out on loan to gain some valuable first-team experience.
Another player to do just that is striker Patrick Bamford.
The 21-year-old's 17 goals have helped Middlesbrough mount a promotion challenge from the Championship and is reported to be in talks over a new deal at Stamford Bridge.
Chelsea heads into this weekend's fixtures looking to move a step closer to the Premier League title when it hosts third-placed Manchester United on Sunday morning (AEST).
Striker Diego Costa continues to recover from a hamstring injury, but Loic Remy is expected to shake off the muscle injury which forced him out of the win at Queens Park Rangers, where veteran forward Didier Drogba led the Blues attack.
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