The 36-year-old won six major honours, including three Premier League titles, during his seven years at Stamford Bridge.
Cole is now seeing out his playing career stateside with Tampa Bay Rowdies, but is hoping to be welcomed back at Chelsea further down the line.
"One day I would like to be part of the coaching staff, in what capacity I don't know," the London Evening Standard quotes him as saying. "But when you're part of a club like this, you don't want to let it go. Hopefully it will be a lifetime relationship."