The 17-year-old is regarded as one of the most exciting prospects in the UK after bursting onto the scene with Celtic.
Chelsea snapped up Feruz from Celtic in September 2011 after he turned down a professional contract at Celtic Park and he is highly-regarded within the corridors of power at Stamford Bridge.
Chelsea are keen to tie down Feruz to a new long-term deal as they see him as one for the future, but the likes of Arsenal, Manchester United, Manchester City, Liverpool, West Ham and Fulham are all monitoring his contract situation in West London.
The skilful attacker, who turns 18 in September, has impressed for Chelsea's Under 21s and in the Next Gen series over the last couple of seasons and it has been suggested he could be included in Chelsea's first-team plans during pre-season this summer.
Should Chelsea secure Feruz on a new deal a host of sides are thought to be keen on taking the Scotland Under 21 international on loan.
West Brom, Crystal Palace, Wigan, Brighton, QPR, Birmingham, Reading, Bolton and Blackpool are all believed to have expressed an interest in taking Feruz on a temporary basis if Chelsea decide to loan him out.