English publication 'The Sun' reports that the Premier League champions have started to put contingency plans in place should the Italian decide to walk away form the club and have made former boss Carlo Ancelotti their top target in the event that Conte does leave.
With Conte's future remaining in doubt amid reports that he would like to return home and that he does not enjoy the best relationship with the Chelsea board due to conflicts over transfer policy, Ancelotti is being prepared to make a sensational return to Stamford Bridge.
The 58-year-old is currently unattached after being sacked by German champions Bayern Munich after a disappointing start to the season and is thought to be keen on a return to the Premier League.
The aforementioned source claims that Ancelotti holds no grudge against Chelsea owner Roman Abramovich, with the Russian having sacked him back in 2011 after a second place finish, just a season after winning a League and FA Cup double.
It is thought that the pair have remained in contact during Ancelotti's time with Real Madrid, PSG and Bayern and that the former Chelsea boss could be ready to rejoin his former side.
There is serious interest in the Italian from both Everton and the Chinese Super League but with the experienced boss confident that he can land the Chelsea job, he is thought to be ready to rebuff any other approach.