In January 2019, the Champions League holders submitted multiple offers to Chelsea for the 19-year-old, including an bid of £35 million.
But Chelsea turned down Bayern’s advances and instead Hudson-Odoi signed a new five-year contract in September.
Bayern are keen to bolster their attacking options following Ivan Perisic’s departure this summer and according to Sky Germany, the German champions have contacted Hudson-Odoi’s representatives once again to discuss a potential move.
The report claims that Bayern are interested in a loan deal which includes a purchase option, however they have not yet made an official approach to Chelsea.
RB Leipzig are also interested in signing Hudson-Odoi but would not be able to afford the winger’s £120,000-a-week salary.
Hudson-Odoi came off the bench in Chelsea’s Premier League opener on Monday evening as Frank Lampard’s side sealed a 3-1 victory over Brighton.
Last season, the winger scored three goals and registered six assists in 33 appearances for Chelsea.
And the 19-year-old faces increased competition for a place in Lampard’s starting line-up following the arrivals of Hakim Ziyech, Timo Werner and Kai Havertz this summer.
‘The challenge goes to the players who want to get into the team,’ the Chelsea manager told NBC Sports.
‘And that’s how you generate an uplift in levels among the squad.
‘You bring in players who hopefully bring the general level up as opposed to anyone who may take it as a negative and think, ‘that’s me done’. No, everyone has to rise and try to fight for their place in the team.’