Chelsea value him at £30m and would prefer to sell to Everton, but Sky Sports News understands the Merseyside club are not interested in a deal.
The Belgium international has spent the first half of the season on loan with Valencia but has not played since a 2-1 defeat to Sporting Gijon on January 8 as the Spanish side attempt to cut short his spell.
West Ham are close to agreeing a deal with Celta Vigo for striker Maxi Gomez, but he is not expected to arrive until the summer, should the proposed £40m deal go through, paving the way for a short-term Batshuayi deal.
Everton showed interest earlier in the window but any move to bring in Batshuayi would hinge on the on the club being able to sell Turkish striker Cenk Tosun.
Crystal Palace have enquired into the availability of Tosun, who has scored only seven goals in 33 appearances since joining Everton from Besiktas for £27m last January.