The 22-year-old enjoyed mixed success under Mauricio Pochettino in the 2023-24 campaign, making 34 appearances in all competitions and coming up with eight goals and three assists.
Amid fierce competition for starts out wide from the likes of Raheem Sterling, Cole Palmer and Mykhaylo Mudryk, Madueke only played 13 Premier League matches from the first whistle in 2023-24.
However, the former PSV Eindhoven man made nine of those starts in Chelsea's final nine matches of the new term, although it remains to be seen how he fares under new boss Enzo Maresca.
Madueke's deal at Stamford Bridge runs until the summer of 2030 with the option of an additional 12 months, but according to Football Insider, the 22-year-old is now the subject of interest from Newcastle.
Madueke 'on three-man Newcastle shortlist'
Eddie Howe's men are supposedly hoping to strengthen their options on the right-hand side of the attack, and they have now approached Chelsea to discuss a deal for Madueke.
The England Under-21 international is believed to be one of three players on Newcastle's wishlist for a new winger, which also includes West Ham United's Jarrod Bowen and Leeds United's Crysencio Summerville.
The Magpies - alongside Chelsea - were thought to have been one of the parties interested in Michael Olise, but Bayern Munich ultimately won the race to prise him away from Crystal Palace.
Newcastle view Madueke as a more realistic option, and they are supposedly 'well-placed' to conclude a deal, but the report adds that no formal discussions have begun since the North East giants made their first approach.
While Chelsea could be receptive to bids for Madueke, they will be holding out for a profit on the £29m that they paid to bring him to Stamford Bridge from PSV Eindhoven midway through the 2022-23 season.
The winger has nine goals and three assists to show from 46 matches in a Blues shirt since returning to England, having previously represented Crystal Palace and Tottenham Hotspur at youth level.
Which other unwanted players could Chelsea sell?
Letting Madueke leave could very well prove to be a mistake from the Chelsea hierarchy, as the 22-year-old often proves a threat on the right, but the books need balancing at Stamford Bridge.
The future of fellow winger Mudryk has also been called into question, while Romelu Lukaku and Armando Broja - back from their respective Roma and Fulham loans - should not stick around for much longer either.
Further back, Conor Gallagher's situation is yet to be resolved, as the midfielder could still leave on a free transfer in 2025, while Kepa Arrizabalaga, Malang Sarr and Trevoh Chalobah may all be on the chopping block also.