The Blues have been heavily linked with the striker, whose record-breaking scoring spree last year helped the Portuguese club complete a remarkable treble under now Chelsea manager Andre Villas-Boas.
The Colombian hitman has also been linked with Real Madrid, but admits he wants a "dream" move to England. He said: "There is a club that I dream to play for. They are foreign but I do not want to say who it is now. The Spanish league is good, but I prefer the Premier League as there is a better atmosphere on the field."
Chelsea would have to pay in the region of £27million to reach the release clause in the striker's contract.
Falcao thinks his exploits with Porto last year, when he broke Jurgen Klinsmann's 15-year-old goalscoring record in the Europa League, mean he is ready for the challenge of playing in a bigger league.
"I have matured in every respect and I am qualified to play in a big league," Falcao said.
"I never thought I would score so many goals. It has been a surprise for me and I have benefited from the quality that we have in our team."
Falcao's bustling strike partner Hulk, who scored 23 league goals last season, has also been linked with a move to Stamford Bridge.
When asked how he would feel if Chelsea owner Roman Abramovich met the staggering 100million euro release fee in his new contract, the Brazilian said: "If it was good for the club and me...
"But, as I have said before, I am totally focused on FC Porto, the club with which I have a contract for five years."
Source: PA
Source: PA