Falcao has endured a torrid start to his season-long loan spell at Stamford Bridge, scoring just once in nine Premier League outings since arriving.
It has been reported that parent club Monaco may attempt to cut short the loan and move him on again in January so that his value does not diminish any further.
According to sources in Italy, Inter manager Roberto Mancini is still a fan of the Colombian striker and wants him to lead the line at the San Siro club.
It has been suggested that the former Manchester City boss may be ready to allow Icardi to join Monaco, if Inter get Falcao in return from the Ligue 1 club.
Icardi scored 22 goals in 36 Serie A appearances last term but he has struggled to recreate such searing form this term – and Mancini may move him on.