The former Gunners captain left the North London outfit in 2011 to return to his boyhood club, having made his debut for the Premier League side in 2003.
Reports earlier this month had twisted an interview with the Spaniard, claiming that he would never link up with Arsenal again following a statement from Arsene Wenger saying that he was an "Arsenal man", but the 25-year-old is adamant that he would consider a return.
"I haven't spoken to [Wenger] about that but it is good news for me that he is saying things like that because I was sad when I left," Fabregas told Sky Sports News. "When I spoke with [Wenger] I was happy in a way because I was able to shake his hand and look him in the eye. I would have never forgiven myself if I had left in a bad way. [It's an] amazing club that has given me everything.
"I'm just happy that they have a good memory of me. Who knows? In the future I don't know if I will come back to Arsenal.
"If one day I had to leave Barcelona, probably the first thing I will look into is Arsenal, but at the moment I'm very happy here. I could not think of a better team for me."
Fabregas's current employers were beaten 2-0 at AC Milan in the Champions League on Wednesday.