Garnacho, 21, moved to Stamford Bridge from Manchester United last year in a deal worth around £40 million.
The player pushed for the move but struggled to assert himself, starting 14 Premier League games and three Champions League matches.
Including substitute appearances, he featured 33 times across the two competitions, scoring just twice and providing four assists. He also added two goals in the FA Cup and four in the Carabao Cup.
Change is in the air at Chelsea, as Xabi Alonso joins as the club's new manager, but sources indicate that Garnacho may not be part of the plans.
While Chelsea are not forcing him out, it is believed they are open to offers and that doors are likely to open for him this summer, via intermediaries.
Insiders close to the situation suggest it may be part of a plan for Chelsea to head into the market themselves, to sign a new elite wide man. Background work on players for the left side of attack has been progressing, we understand.
Chelsea finished 10th in the Premier League last season and will undergo squad changes this summer.
Enzo Fernandez is considered the most high-profile player who could leave, if a very significant offer lands, while current first-choice goalkeeper Robert Sanchez may yet depart.
Chelsea are heading into the market themselves with new intent, as they are willing to buy proven players this summer.
Whether one of those players is a winger remains to be seen, but Garnacho's exit would certainly open the door to such a moment.
He has previously had opportunities in Italy to consider, and sources are suggesting that it is very likely that Serie A will be a leading potential landing spot for the Argentina international if he does leave Chelsea.
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