The 21-year-old is expected to undergo a medical in the next 48 hours before signing a long-term contract with the Stamford Bridge side.
Moises Caicedo has signed for Premier League club, Chelsea for a British record deal of £115million.
The midfielder signed after weeks of discussions and failed bids.
The Blues have agreed on a fee for the Ecuador midfielder that will see Brighton earn a minimum £100m plus a further £15m in add-ons.
The 21-year-old is expected to undergo a medical in the next 48 hours before signing a long-term contract with the Stamford Bridge side.
Recall Caicedo was close to joining Liverpool last week after the Reds saw a £111m bid accepted by Brighton. But Chelsea chiefs made major progress over the previous 48 hours and struck an agreement with Brighton owner Tony Bloom.
Former Brighton recruitment specialist Paul Winstanley now at Chelsea, is said to have been at the forefront of the deal.
Chelsea are also offering around £55m for Southampton midfielder Romeo Lavia, who has also been the subject of three failed bids from Liverpool.
The Blues had been linked with a move for Caicedo throughout the summer, before it emerged on Friday that Liverpool would hijack a move for the Brighton star.
Liverpool agreed a £111m fee with Brighton, leaving Chelsea needing to up their offer for the Ecuadorian international.
However, Chelsea never gave up and now appear to have won the race for his signature after agreeing a £115m move.