The Blues winger started today in the 4-0 win over Crystal Palace, with Frank Lampard sending a message to the German giants that he wanted to keep his man at Stamford Bridge.
The Daily Mail now report Chelsea have rejected an offer worth £70m for Hudson-Odoi's services.
Bayern's offer would have seen the 19-year-old join on loan this season, with an option to buy him at a fixed price next summer.
And it's clear the Bundesliga giants aren't giving up on the attacker they almost nabbed in 2019.
Bayern's plan is to return with an even bigger offer between now and Monday's transfer deadline.
Lampard is keen to keep Hudson-Odoi at the club now he has broken back into the first-team.
But the player has previously wanted a move to the European heavyweights and could push for it to happen in the next 48 hours.
Lampard was quizzed on the matter at full-time following this afternoon's 4-0 win.
"There is no definitive answer," he said when asked about Hudson-Odoi.
"By Monday we’ll know the definitive answer. If Bayern have declared their interest that’s one thing. But everything that happens on Monday will be what is good for the club, because Callum’s our player.
"Also what Callum wants will come into consideration. At the minute I want Callum part of my squad, particularly when he’s offering up what he offered up in the second half and when he came on against West Brom.
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"I think Callum’s performance particularly in the second half today when he got more aggressive and got past his full back on the outside was exactly what he needs to show
"Because Callum absolutely has the ability and pace and ability on the ball to do that and put crosses in which he started to do.
"Callum is absolutely part of our plans here. We have Christian Pulisic and Hakim Ziyech to come back into play, we need options on the wings and I was very pleased with him."