The Spain international said that he would consider coaching at the club if the chance to play for the Gunners again does not arise.
"Arsenal is in my heart and always will be. I don't know if I'll have the opportunity to go back and play there one day, or maybe after football," he told The Guardian.
"It's a club that is always going to be there and will always open its doors to me. The club's like a family so, even if it wasn't as a coach, I'm sure they'd give me the chance to play a role."
Fabregas spent eight years at Arsenal before joining Barcelona in 2011 in a deal worth £25.5m.