The Argentine striker moved to Stamford Bridge in January but has struggled under Maurizio Sarri.
Higuain has netted just three times in 10 appearances for Chelsea.
And the Blues are struggling to make it into the top four as they fight with Arsenal, Manchester United and Tottenham.
Chelsea currently sit sixth, three points behind Arsenal in fourth.
Sarri’s side have the option to extend Higuain’s deal by 12 months by paying £15.5million (€18m).
But after poor displays since making the switch, Chelsea have no interest in securing his services, according to Marca.
The 31-year-old previously enjoyed his time under Sarri at Italian outfit Napoli.
But he has been unable to replicate that form since making the move to London.
Chelsea lost 2-0 to Everton last time out in the Premier League and former Arsenal midfielder Stewart Robson believes they have problems.
“There’s three major problems with Chelsea defensively,” he said.
“David Luiz can’t run when the ball’s played down the side.
“That space is left open because Alonso is playing higher up the field. He’s not good in one v one situations.
“And they’ve got a holding-midfield player that can’t get around the pitch, so that’s the biggest problem.”
Chelsea return to action after the international break against Cardiff in the Premier League.
The Blues will look to bounce back with a win and keep pressure on the likes of Manchester United, Arsenal and Spurs.