Former Arsenal stalwart Fabregas, who was frequently utilised from the bench during the first half of last season's Premier League title-winning campaign, has been a near constant presence in Antonio Conte's midfield so far this term, starting 14 of 17 matches across all competitions amid injuries to the likes of Tiemoue Bakayoko, N'Golo Kante and Danny Drinkwater.
The Spain international has 18 months remaining on the five-year deal he signed upon his arrival from Barcelona in 2014 and The Times reported last week that Chelsea were ready to offer him fresh terms in order to ward off interest from Manchester United boss Jose Mourinho - the man responsible for bringing him back to English football in the first place.
It was said that Fabregas was eyeing a new two-year contract, although some compromise is likely to be required with Chelsea tending to only offer 12-month extensions to players over 30 with a few notable exceptions including captain Gary Cahill.
Chelsea would be at pains to lose another midfielder to Mourinho, having sanctioned the £40m ($52.4m) sale of Nemanja Matic to Manchester United in July.
"Would I like to renew? Yes, because it is a club that has always treated me well," Fabregas, who is currently said to earn around £160,000-a-week in west London and admits that he still has regular contact with Mourinho, told the Evening Standard.
"I believe the fans have a lot of respect for me and I have a lot of respect for them. I have given my all for the club for the last three-and-a-half years.
"This is a fantastic club for me and I have had a fantastic time here. Hopefully another contract will happen. Time will tell."
Mourinho will get another close look at Fabregas, whom he is said to see as a potential alternative to another former player in Arsenal contract rebel Mesut Ozil, on Bonfire night when Manchester United visit Chelsea in the final Premier League fixture to be held before the next international break.
The visitors have won three matches across all competitions since suffering a shock first defeat to newly-promoted Huddersfield Town in 65 years, progressing to the quarter-finals of the Carabao Cup and seeing off Tottenham Hotspur before taking one step closer to the last 16 of the Champions League with a comfortable victory over Benfica.
Chelsea, meanwhile, looked to have turned the corner after a two-game winless run but saw their streak of successive victories ended at three by a comprehensive loss to AS Roma that provoked a furious reaction from the under-pressure Conte. A fourth top-flight defeat of the season already for the defending champions coupled with another win for Manchester City over Arsenal would see them already cut 12 points adrift of the leaders in early November.
Conte is still without wing-back Victor Moses for the heavyweight clash and it remains to be seen if N'Golo Kante will be available again after missing the last six matches with a hamstring injury.