The Special One is quitting Spanish giants Real Madrid in the summer to come back to England.
And the two-time Champions League winner, who bagged six trophies in just three years at Stamford Bridge, is keen on resuming his old job in SW6.
A top source close to Mourinho revealed last night: "Jose would go back to Chelsea."
The only stumbling block is that this time Mourinho will insist Blues' billionaire owner Roman Abramovich gives him TOTAL control of team affairs, free from any interference.
That way he guarantees to bring the glory days back to the Fulham Road club.
The source added: "He knows things are a mess there right now. He also knows it would be difficult to go back and make the same impact as before.
"Winning the Premier League title back to back in his first two years at a club that had not been champions for 50 years was incredible. That's why he's still loved by the fans and why he still loves the club. They were special days.
"But before agreeing, he would want things very clear between him and Roman Abramovich.
"He would say 'Roman, you are the owner and I am the boss here. Let's work together and the power is in our hands'.
"For Jose that would be the perfect partnership."
Abramovich might well be tempted. The Londoners have tried a succession of managers since Mourinho's shock departure in 2007 — Avram Grant, Phil Scolari, Guus Hiddink, Carlo Ancelotti and now Mourinho's ex- scout Andre Villas-Boas.
But all have failed to match Mourinho's heroics.
Hiddink won the FA Cup and Ancelotti did the Double, while current boss Villas-Boas has Chelsea only fourth after a string of disappointing displays and results.
Villas-Boas was brought in at a cost of almost £25million — including a £12m three-year contract, £5m compensation to his former club Porto and severance pay for Ancelotti.
But Mourinho believes he has unfinished business.
He won all four domestic trophies — Premier League, FA and Carling Cups and Community Shield — but never captured the Champions League crown.
Adding Chelsea to his previous successes with Porto and Inter Milan would be his top aim — an ambition shared by Abramovich.