The Poland international looks nailed on to move to the Bernabeu, having held contract discussions with the club’s representatives in a series of meetings last month.
However, the Bundesliga side have still started drawing up a shortlist of strikers who could replace the 29-year-old should he leave for the Spanish capital.
According to AS, Chelsea forward Morata has been pinpointed as the prime target on their three-man hit list.
Morata has not enjoyed the best of seasons in his debut campaign in England, having only found the back of the net 13 times from 38 appearances.
Despite his modest goal return, Bayern are keeping tabs on the 25-year-old with his age said to be a major factor in their interest.
Bayern are keen to refresh their ageing squad and could be set for a summer overhaul with the likes of Franck Ribery and Arjen Robben potentially leaving the Allianz Arena.
Morata returned to Chelsea training on Thursday after enjoying a mini break with his pregnant wife Alice Campello in Dubai – following his omission from the Spain squad for their friendlies over the international period.
As well as the Chelsea forward, Bayern are also considering summer swoops for PSG’s Edinson Cavani and RB Leipzig forward Timo Werner.