The Belgian striker has returned to the San Siro this summer, only a year after moving to Stamford Bridge for £97.5million.
Inter have paid in the region of £7million to secure Lukaku's services for 2022/23.
And according to the Telegraph, a proposal has been put forward to potentially replicate the deal in 2023/24.
This could become a reality if Inter are happy with the Belgian's performance in the coming campaign.
The Blues would secure a second loan fee if it were to be the case.
It's reported that both clubs hope Inter would be able to afford a permanent deal for Lukaku by 2024.
At this point he'd have just two years remaining on his contract with the Blues.
Regardless, Chelsea look set to make a sizeable loss on the signing they made last summer.
It now appears to be a case of damage limitation for the London side as they are saving Lukaku's £325,000-a-week wages and netting the £7million loan fee for 2022/23.
If they can do the same in 2023/24 and then offload the Belgian at the end of that season, Chelsea may succeed in efficiently cutting their losses.