Benfica head coach Bruno Lage is keen to strike a deal to bring Joao Felix back to the club, though he acknowledged the financial challenges in signing the Chelsea forward.
Joao Felix left the Primeira Liga side in 2019 to join Atletico Madrid in a move worth €126m.
Yet after failing to cement his place in Diego Simeone's team, Joao Felix was loaned out to Chelsea, before then joining Barcelona for the 2023-24 campaign.
The Portugal attacker subsequently transferred to Chelsea on a permanent deal last year, but struggled to make an impact and spent the back half of the season on loan at AC Milan.
His time at Chelsea appears to be over, with Enzo Maresca leaving the 25-year-old out of his Club World Cup squad, and handing his number 14 shirt to new signing Dario Essugo.
That has raised interest from Benfica, whose boss Lage expressed his desire to bring Joao Felix back to his boyhood club.
"Joao has already spoken about this situation, all the players would like to return to Benfica," Lage told reporters. "We have to create the opportunity, and they have to show that they want to come to Benfica.
"We have to bring these two desires together. The financial aspect is very important. Joao left years ago for €120m, and now there is a cost, whether it is a loan or a percentage of the transfer fee.
"On the other hand, there is the player's salary. There is a lot of desire, but there is also the financial aspect; it is on both sides."
He started just three games for Chelsea last season before his loan to Milan, where he found the net just twice in 15 appearances.
That is in stark contrast to Joao Felix's last campaign at Benfica, when he scored 15 times, along with seven assists, in 26 outings during the 2018-19 season.