The Dutchman, who was in charge of the Blues for the second half of the 2008-09 season, has again been tipped to take over at Stamford Bridge should Carlo Ancelotti be sacked.
Favourite: Guus Hiddink was popular with the players during his time in charge
Hiddink, who is currently managing Turkey, admits he has continued to help Chelsea out thanks to his relationship with Roman Abramovich.
In his weekly column for De Telegraaf, he wrote: 'Everything is doing well with Chelsea. When I left there 18 months ago, I advised the club from that moment to recruit well.
'Now they are busy with such matters and now and then, I take part in that process. It takes up little time and therefore it goes well with my job with the Turkish national team.
Farewell? Carlo Ancelotti could be sacked by Chelsea at the end of the season
'Being an advisor to a club of the stature of PSV, Ajax and Chelsea is not something you can do on a casual basis. I have said the same thing to PSV director Tiny Sanders, when he spoke to me about the matter.
'Of course a telephone call is always possible but working in an official capacity is something else.
'Above all else, Johan Cruyff called before him. He called me before to ask me to sit on Ajax's board.
'It seems like a nice challenge for me although there are some issues with the practicalities of everything. Such a role would be less complicated that that of an advisor.'
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