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Fernandez was left out of Benfica's squad for their game against Arouca on Tuesday night, with the 22-year-old undergoing a medical in Portugal ahead of his switch to Stamford Bridge.
According to Portuguese broadcaster SIC, Fernandez will fly to the UK on Wednesday morning, with a private jet scheduled to leave Lisbon airport at 10.20am.
Analysis: What Fernandez will bring to Chelsea
Sky Sports' Ron Walker:
"Fernandez's attributes make it clear how he can help. Still only halfway through his first season with Benfica, he has racked up the second-most assists in the Primeira Liga, and created 30 chances for his team-mates - some of them particularly eye-catching, and a stunning pinpoint set-up for Goncalo Ramos against Sporting earlier this month perhaps the pick of the bunch.
"It is that kind of playmaking potential which had Manchester City and Real Madrid interested in bringing him in from boyhood side River Plate last summer before he settled on a move to Lisbon.
"No one in the Portuguese top flight has made more passes than the Argentine, and if he does prove to replace Jorginho at Stamford Bridge, he will also provide something extra in the final third where he tops the charts for passes too.
"Should Chelsea want to play with a midfield two, he would offer a better option there too. Fernandez has already taken responsibility without the ball at Benfica, slotting into an anchorman role regularly as required. He has been one of the league's top tacklers, and only 10 players across the division have won the ball back more in the middle third despite his considerable output further up the pitch."
Medidas corporales de Valentina Cervantes
La altura de Valentina Cervantes es de 5 pies 3 pulgadas (1,63 m) y su peso es de alrededor de 50 kg (111 libras). Valentina Cervantes tiene cabello castaño y ojos verdes.
Actualmente, Valentina Cervantes tiene varios tatuajes en su cuerpo. La mayoría de los tatuajes de Valentina están en sus brazos.
