Frank Lampard’s side have climbed up to third place in the table after winning three games on the spin and are just two points behind league leaders Tottenham Hotspur, who they face this weekend.
The Blues invested heavily in their squad in the last transfer window, recruiting the likes of Kai Havertz, Hakim Ziyech, Timo Werner and Ben Chilwell.
The summer signings have settled in quickly to life at Stamford Bridge and played a major role in their good run of form.
Timo Werner has four goals in his first nine league games, while goalkeeper Edouard Mendy and veteran centre-back Thiago Silva have transformed Chelsea’s backline.
Meanwhile, World Cup winner N’Golo Kante, who missed almost 50 per cent of the Blues’ games last season with multiple injuries problems, has thrived in the centre of a midfield three in recent weeks.
And Sherwood feels if Chelsea can keep Werner, Mendy, Silva and Kante fit, they will challenge Liverpool for the title.
When asked if Lampard’s side can win the league, the former Tottenham manager told Optus Sport: ‘I think they can. I think anyone that finishes above Liverpool, I think they win the league.
‘They have to keep their key men fit. I think their key men are Werner, Kante has to play, and the goalkeeper [Mendy] has to be there all the time, and Thiago Silva has to play the majority of games.’
But Sherwood is expecting a tense battle between the two sides and predicted that the match will end in a draw.
‘I think Tottenham just soak it in as they’ve been doing, Chelsea have all the possession,’ Sherwood added.
‘Tottenham score first, hold onto something, Chelsea score late, 1-1.’