The Italian is in his second managerial role at Vicarage Road following a spell at West Ham and, while he is enjoying life with the Hornets, he admits he is keen to return to the club where he spent seven years during his playing career.
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"I have been dreaming of becoming a good manager, one who can lead a team like Chelsea," Zola told France Football.
"I work really hard for it. I do not know if I will [manage Chelsea]. I think I have the abilities but I do not think I am good enough yet.
"It is only my second coaching experience in a club after West Ham. I still have a lot to do.
"I am really pleased by the plans [at Watford]. I know how serious the Pozzo family are. This is the best place I could have found to develop as a coach."
Rafa Benitez is currently Chelsea’s interim manager following the sacking of Zola’s former club and international team-mate Roberto Di Matteo.