Rumours that the 26-year-old Colombia international could move to Stamford Bridge in January have intensified in recent weeks, while Blues striker Fernando Torres has been linked with a return to his former club Atletico as part of the deal.
Manchester City and Real Madrid are also thought to be interested in Falcao, who has scored 10 Primera Liga goals in as many games this season, but the striker has suggested he would be keen on a Blues move.
He told the Daily Mail: "Chelsea are champions of Europe and there is not much more to say than that.
"Even after winning the Champions League they still go and sign players of the highest quality. Their ambition is clear.
"I was also a big fan of (former Chelsea forward) Gianfranco Zola when I was growing up."
Falcao does not believe he would have trouble adjusting to the physical demands of the Premier League should he make the move to England.
"I would not be worried about the physical aspect of the Premier League," he said. "I have scored goals in Argentina, Portugal and now Spain."
Falcao added: "I am confident I can adapt my game to any league. I would welcome the challenge of the Premier League.
"I have watched the Premier League for a long time. There is so much quality and it is such an exciting league. Of course it is nice to think I might play in it."