The Premier League club has also confirmed plans to explore ways of improving the public areas between the stadium and Fulham Road, including the creation of landscaped walkways and cycleways.
The club will consult with local residents groups first and then carry out a detailed study.
Chelsea have been exploring ways of either increasing the capacity of Stamford Bridge or moving home for several years. Battersea, and a site at Earls Court have both been mentioned as venues for a new stadium in the past.
A statement on Chelsea’s website read: “A study of the area from Fulham Broadway town centre to Stamford Bridge and beyond has been commissioned by Chelsea Football Club's owner Roman Abramovich.
“This study will review the potential for improvements to publicly-owned areas along Fulham Road and the area around the football ground, including the possibility of decking over the railway lines to the east and north of the ground.
“This could create landscaped public walkways and cycleways, while also reducing pedestrian traffic on Fulham Road and nearby streets on matchdays.
“The study will also assess the feasibility of an expansion of the stadium within the existing historic site boundaries, potentially to enlarge its capacity, enhance its facilities and improve the movement of people and vehicles on match and non-matchdays.
“As a first step, a consultation will take place with local stakeholders, including community and residents' groups, for opinions on the existing conditions in the area.
“The consultation will not concern itself with any design or details of a redevelopment on the stadium site. Instead it will ask about the surrounding publicly-owned areas and in particular the civic infrastructure necessary to ensure a successful and feasible redevelopment.
“We will keep our supporters informed as the study progresses.”