Cuevas' club, O'Higgins, confirmed earlier this week that talks had been held over a possible move for the 17-year-old, and La Tercera has reported that is set to head to Stamford Bridge in June.
The Chile Under-20 international's agent, Mauricio Valenzuela, certainly believes that an agreement is close to being reached.
"The negotiations are very advanced with Chelsea," Valenzuela told Al Aire Libre en Cooperativa.
"There are still a few details, but the situation is very advanced."
Chelsea have been tracking Cuevas for some time and Valenzuela is confident he can flourish in European football.
"We have been working on this for a while, the idea is that players can leave Chile and be successful," said the agent.
"Chelsea had been following him for a couple of years, and the offer was made due to his good performances."