The American saw his record run of 310 consecutive Premier League appearances ended as summer signing Hugo Lloris was chosen to start against Aston Villa earlier in October.
However, Villas-Boas suggested that the 41-year-old could be handed a return to action when the Blues visit White Hart Lane on Saturday.
He told ESPN: "They compete for a position. In the end, we have made Brad the No.1 for the beginning of the season and we still see Brad as No.1, a player who has been tremendous in goal for us. We respect that.
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"Certainly, Brad has been tremendous, we respect that. He is looking in form, as Hugo is. He has done brilliantly this week for France [in the 1-1 draw away to Spain]. So competition will continue between the two. The decision will be left before the game."
The Portuguese manager acknowledged that Friedel had been bitterly disappointed to see his eight-year run of games ended, adding: "We spoke about it before. In the end, it was difficult for him, not because of the consecutive run - he was looking good. It was not on performance that we made the switch, that's for sure.
"We had the opportunity to give Hugo a consecutive run of four games - including the two national-team games like it happened.
"We are extremely happy about the fact we did. It gave him the first impact of Premier League football. But, as a great professional, he has to move on from that."