The Blues were initially sanctioned by world governing body FIFA in February of this year.
FIFA found the London club guilty of breaching article 19 of its regulations on the status and transfer of players (RSTP), which concerns the protection of minors.
They were also found to have breached article 18, concerning third-party influence.
Chelsea appealed to FIFA and the case was heard in April, but documents published by FIFA at the end of October showed its appeals committee found the Blues had committed 150 breaches of regulations.
The appeals committee agreed with the disciplinary committee that the breaches were "inexcusable".
CAS will not make a decision on the day, but it has been reported that the verdict should come in time for the club to know whether they can be involved in the January 2020 transfer window.
Chelsea declined to comment on the CAS appeal when contacted by the PA news agency on Tuesday.
The club have made a good start to life under new head coach Frank Lampard despite not being able to sign any new players in the summer.
The likes of Tammy Abraham, Mason Mount and Fikayo Tomori, all Chelsea academy products, have returned to the club from loans elsewhere to make a big impression on the first team at Stamford Bridge.
All three have also been capped at England senior level by Gareth Southgate since the start of the season and the Blues are in third place in the Premier League table, behind second-placed Leicester only on goal difference.