Are you looking for some market-beating returns to supercharge your investment portfolio?

If you are, it could be worth considering the three ASX 200 blue chip shares listed below.

That's because they have been tipped to rise by ~20% to ~50% over the next 12 months. Here's what analysts are predicting for them:

Flight Centre Travel Group Ltd (ASX: FLT)

Analysts at Macquarie remain positive on Flight Centre and believe it could be an ASX 200 blue chip share to buy for big returns.

It is a travel company that operates under the iconic Flight Centre brand, as well as Aunt Betty, Corporate Traveller, FCM, Stage & Screen, and Travel Associates.

Flight Centre's shares were sold off last week following the release of a disappointing update. Macquarie sees this as a buying opportunity and put an outperform rating and $23.34 price target on its shares.

Based on the current Flight Centre share price of $15.68, this implies potential upside of almost 50% for investors over the next 12 months.

Treasury Wine Estates Ltd (ASX: TWE)

Over at Goldman Sachs, its analysts see significant value in this wine giant's shares at current levels and think it could be an ASX 200 blue chip share to buy.

The broker is very positive on the Penfolds owner's outlook, noting that its "buy rating on TWE is premised on accelerating double-digit EPS growth in FY24-27e."

In light of this positive outlook, Goldman believes that its shares deserve to trade on higher multiples and is tipping a rerate in the near future.

Goldman Sachs has a buy rating and $15.20 price target on Treasury Wine's shares. This implies potential upside of almost 30% for investors.

Woolworths Group Ltd (ASX: WOW)

Finally, Goldman Sachs also thinks that supermarket giant Woolworths could be an ASX 200 blue chip share to buy.

Especially given recent share price weakness caused by concerns over the ACCC taking aim at the company.

Goldman believes that this risk is already built into its shares. It notes that "net net, while we do not take any view on the final outcome, we remain of the view that earnings and valuation risks from the Inquiries are sufficiently priced in and reiterate Buy WOW."

The broker currently has a buy rating and $38.90 price target on the company's shares. Based on the current Woolworths share price of $32.74, this implies potential upside of almost 20% for investors over the next 12 months.