The Frenchman has been linked with a move to a number of clubs during the current transfer window, with PSG, Arsenal and Tottenham Hotspur all being touted as potential suitors for the 27-year-old.
When pressed on the future of Cabaye, Blanc, who handed the player his international debut while in charge of France, remained coy on whether or not he will make an offer to Newcastle for his services.
"He is a very good player, I have not changed my mind," Blanc told reporters. "For now, he is at Newcastle.
"I read that Tottenham are also interested. I hope he will be at a big club come September."
Cabaye joined Newcastle from Lille in 2011.