The Argentina star is one of the planet's most in-demand stars.
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His stunning displays alongside Lionel Messi as the South Americans won the World Cup in Qatar earlier this month have seen him gain more suitors.
Chelsea, Liverpool and Manchester United are all showing an interest in the 21-year-old's services.
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Any club that secures his signature will need to convince Benfica to sell.
The club's president, Rui Costa, has named his price to get a swift deal completed.
He said: "We will sell Enzo Fernandez in January only for the €120m (£106m) clause.
"We would not like to sell Enzo Fernandez in January, but we are willing to satisfy the boy in the event of an offer of €120m."
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For Chelsea, it's reported that such a release clause will be no issue, with Graham Potter determined to bolster his squad with arguably the hottest young talents on the planet.
Should the Blues meeting his £106m release clause, it would make Fernandez the club's most-expensive ever signing, following Romelu Lukaku's £97.5m arrival from Inter Milan in 2021.