It is understood the loan could then be extended for another 12 months subject to certain conditions.
Higuain has been on loan at AC Milan from Juventus since the start of the season, with an option to buy at the end of the season.
Chelsea head coach Maurizio Sarri is understood to be keen on bringing Higuain to Stamford Bridge, despite concerns from the club's board.
According to Sky in Italy, Chelsea's chief-executive Marina Granovskaia remains unconvinced Higuain is the answer to the club's striker problems.
Higuain came off the bench for the final 20 minutes of AC Milan's 1-0 Super Cup defeat to Juventus in Saudi Arabia.
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