Italian newspapers claim Inter are ready to leave Ricardo Quaresma on loan at Chelsea in exchange for Deco.
Both Portuguese internationals are favourites of Coach Jose Mourinho, but have struggled with form this season.
Quaresma was snapped up from Porto for almost £20m in the summer only to be loaned out to the Stamford Bridge side in January after he was repeatedly jeered by fans.
Now Tuttosport suggest Quaresma’s loan at Chelsea could be extended in exchange for midfielder Deco.
It is certainly not the first time Deco has been linked with the Nerazzurri, as he was already very close to joining them before he plumped for the Premier League.
Phil Scolari’s dismissal has left him on the sidelines and he would like the chance to rediscover his form with Mourinho, who helped Deco lift the UEFA Cup and Champions League.
There are other options too, as Quaresma could be used to tempt Tottenham into parting with Jermaine Jenas, while a return to Porto in exchange for Bruno Alves is another alternative.
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