Monaco vice-president Vadim Vasilyev has confirmed Radamel Falcao will be playing for the Ligue 1 side again in 2016-17.
The Colombia international joined Monaco from Atletico Madrid in 2013, but picked up a serious knee injury halfway through his first season at the Stade Louis II.
He was then sent out on loan to Manchester United in 2014-15, only to be moved on to Chelsea the following season.
The 30-year-old failed to impress in the Premier League, though, and will return to Monaco next term.
"Falcao will return," Vasilyev told reporters.
"I am almost certain that he will be with Monaco next campaign.
"We are still finalising a few details, but I expect him to wear the Monaco jersey next season."
Falcao's contract with Monaco runs until June 2018. He scored just once in 10 Premier League appearances for Chelsea.