The Spanish midfielder began his professional career with the Gunners, with Arsene Wenger having lured him away from Barcelona’s famed La Masia academy system.
He took in over 300 appearances for Arsenal, including many as captain, before returning to his roots at Camp Nou in 2011.
Fabregas made his way back to England at Stamford Bridge in 2014, allowing him to collect two Premier League titles, but he could swap west for north London at some stage – either as a player or coach.
“Of course, Arsenal will always be in my heart and I will never forget them so why not return. You never know,” the 31-year-old told Marca.
The World Cup winner believes he still has many years at the top left in him, adding: “I feel fine still.
“In seven months my contract ends with Chelsea. It will be 16 seasons playing at the highest level, over 750 games, a lot of training, travelling.
“I feel young and strong but maybe I can't do 60 games a season. With my style I think I can keep playing for longer and obviously I want to keep playing for many years.”
Once his playing career comes to a close, Fabregas admits that he is planning to move into management.
Quizzed on where he will be in 15 years, he said: “No idea. I am not even thinking about that. You never know and I don't like to plan ahead. Whenever you do, something else happens.
“I am sure that I will study to be a coach and hopefully in 15 years I will be coaching a top club.”
In the present, Fabregas will be hoping to play some part in Chelsea’s latest Premier League outing against Burnley.
He will start that game on the bench, with Mateo Kovacic, N’Golo Kante and Jorginho having nailed down the midfield berths in Maurizio Sarri’s side.