Reece James is likely to be rewarded with a new and improved Chelsea contract, according to reports.

The 21-year-old is in the form of his life and has already established himself as one of the best full-backs in the world on form. 

James has five goals and five assists already this term from wing-back, including a stunning goal against Juventus in the Champions League.

His current deal at Chelsea runs until 2025 but the club are believed to have the option of extending the deal for a further year, as per the Telegraph.

But the club are set to reward the England international with a pay rise and an extra year, however, they won't rush any decisions with other contract renewals a bigger priority for now.

Chelsea have Andreas Christensen, Antonio Rudiger, Cesar Azpilicueta and Thiago Silva all out of contract at the end of the season.

James earned high praise from teammate Christian Pulisic who believes the 'sky is the limit' for the defender.

“Honestly, the way he is playing right now and the way he strikes the ball, I wouldn't be surprised,” Pulisic said.

“What he can do on the field is pretty special. He's got so much ability, so many different ways to help the team. The sky's the limit for him.”

More Chelsea Coverage

More must-reads:

TODAY'S BEST
Donovan Mitchell channeled 'The Answer' in first-round win vs. Magic
Defending champion Golden Knights ousted by Stars in first round
Rangers hold off late Hurricanes rally to take early series lead
Watch: Kyle Larson wins closest finish in NASCAR Cup Series history
Watch: Shohei Ohtani homers twice as Dodgers sweep Braves
Russell Westbrook reacts to reports of him leaving Clippers
Liverpool forward Mohamed Salah joins elite company in victory vs. Tottenham
Anthony Edwards joins exclusive club of all-time greats
Aces sign All-Star G Jackie Young to contact extension through 2025
J.J. Watt reveals his thoughts on a potential NFL comeback
Taylor Pendrith outlasts Ben Kohles at Byron Nelson for maiden win
Andrey Rublev conquers Felix Auger-Aliassime, fever for Madrid title
Lando Norris wins Miami Grand Prix for his first career F1 victory
Watch: Astros woes continue in one-run loss to Mariners
Panthers star throws some shade at defeated Maple Leafs
NASCAR Cup Series race at Kansas delayed
Watch: Juan Soto's three-run double gives Yankees 5-2 lead over Tigers in seventh
Pirates GM responds to calls to promote ace pitching prospect
Dodgers place right-hander on 15-day injured list
Former All-Pro CB medically cleared for football activities

Want more sports news?

Join the hundreds of thousands of fans who start their day with Yardbarker's Morning Bark, the best newsletter in sports.