The Gunners' winger has a good record against the Blues and is looking forward to trying to continue his impressive performances up against his England teammate
"I don't mind scoring against Chelsea," Walcott told the Daily Star. "I've done well against them - they must probably hate me, to be honest. I don't mind playing against Ashley either. I like playing against him."
Walcott rates Cole highly but believes he has the edge over his England teammate, who he got the better of in last season's contest at Stamford Bridge.
"He is one of the best left backs in the world and we have some very good battles against each other - in training as well for England," Walcott explained.
The 23-year old scored in Arsenal's 5-3 victory that day and reveals he will be looking to continue his good record against the Blues and their left-back on Saturday.
"Maybe in the past few years I have had the edge on him," Walcott said. "So I am sure when he sees all this he will be frustrated and he will probably want to kick the hell out of me, which is fine!"
He added, "He is doing fantastic at the moment and to be that great for so long is an incredible achievement and it is a great honor to play with him."