The 27-year-old France international has previously admitted he is open to a St James' Park departure, while Monaco CEO Vadim Vasilyev has described the midfielder as "exciting"
The 27-year-old has reportedly garnered many admirers following two impressive seasons on Tyneside, leading to the France international admitting a move to Manchester United would be tempting.
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"He brings a lot of guarantees to different positions. [He] is an interesting player," Blanc told reporters.
Mega-rich Monaco have also expressed an interest in Cabaye - with CEO Vadim Vasilyev describing him as "an exciting player." - while the midfielder has previously admitted that he would be open to a move away from Newcastle.
However, the Magpies' new director of football, Joe Kinnear - who described the former Lille man as "Yohan Kebab" in a recent gaffe-filled interview - has insisted the player will not be sold this summer as Newcastle look to improve upon last season's below-par 16th-placed finish.