Andre Villas-Boas only signed the 20-year-old in the summer from the Catalan club but they inserted a number of buy-back clauses in the deal that cost Chelsea just £5m.
The La Liga side can buy the midfield anchorman back for £10m during 2012 or £15m the following year but, contrary to some reports earlier in the season, Chelsea must agree to any deal.
Barca boss Pep Guardiola is believed to be interested in taking the youngster back to the Nou Camp, according to Spanish publication Marca, as Seydou Keita is set to leave the club at the end of the season in search of regular first-team football.
Guardiola, who was reluctant to let sell the prospect in the first place, has been impressed by the form shown by the Spain Under-21 international, who has replaced John Obi-Mikel as the defensive shield.
Villas-Boas will be desperate to hold on to Romeu, one of the few players that have impressed since his arrival, after he tried to sign last season while boss at Porto.