Alex submitted a transfer request at the start of December and is expected to leave Stamford Bridge following the signing of Gary Cahill.
QPR are reportedly favourites to sign the Brazil international and Hughes is expected to hold further talks with Alex on Wednesday.
Hughes, who recently replaced Neil Warnock at the Loftus Road helm, is hoping he will soon be in a position to bolster his squad.
"Talks are ongoing," said Hughes. "I've spoken to him and told him my feelings towards him as a player.
"It's a big decision for him. We're trying to get things finalised and get over the line with it.
"The hope is that we'll get deals done sooner rather than later, but I can't say for sure whether it'll be sooner at the moment."
Speaking after the FA Cup win over MK Dons on Tuesday night, Hughes also confirmed talks regarding a loan deal for Sao Paulo youngster Henrique 'seems to be progressing'.
