According to Tuttomercatoweb (via The Sun's Anthony Chapman), the Belgian will sign his new deal at Stamford Bridge "in the coming weeks" and is set to see his wages increased by £100,000 per week on his current £200,000-a-week deal.
Hazard's current contract is set to expire in 2020, and it looks as though he will be rewarded for a fine contribution in 2016-17 as Chelsea won the Premier League—he netted 16 goals and provided five assists in the English top flight last term, per WhoScored.com.
It is likely Chelsea are also keen to ward off potential suitors for the 26-year-old Belgium international.
Per the Guardian's Ed Aarons, Hazard has long been a reported target of Spanish giants Real, and he refused to rule out a move to the Santiago Bernabeu in the summer.
There was no concerted effort from any club to snap up Hazard in the recent transfer window, and he remained at Stamford Bridge, but there is still likely concern he could be tempted to move in the future.
If Chelsea can get Hazard to sign on to a new contract, it will signal an ongoing commitment from the former Lille OSC man to the west London club.
He is Chelsea's most potent attacking threat, able to produce match-winning magic on occasions when it is most needed.
It is no coincidence that Hazard's two best seasons in a Chelsea shirt since he moved to the club in 2012 have come in their title-winning campaigns in 2014-15 and 2016-17.