The former Blues player-manager says he loves watching the current team play.
Hoddle told Absolute Radio: "It's a strange season for Chelsea. I love the way they play. There are certain times I look at them and at the beginning of the season, they looked the team that were going to romp the league, they looked physically strong, they closed down ever so well as a team and they had the elusive players Hazard, Mata, Oscar - the key there at the beginning of the season; Ian - if I am right, I think you and I did the Arsenal/Chelsea game and they looked so strong early in the season it was incredible and the key to it for me was they had Lampard playing, they had John Terry and they had that English sort of spine if you like. A little bit of Cole was fit and playing and flying down that left side and when they started something was left out, injury and John Terry got injured, that was a massive change for me in the Chelsea overall balance in the team and the way they play.
"I love some of the games that I watched them play.
"They can turn it on, they've got a beautiful way of playing and plus maybe with the manager's situation hasn't helped. I think if you had a manager signed on for a five year deal, a three year deal you knew what was going on behind the scenes, you knew there was a plan for other players coming in in January and whatever and maybe going forward all them things psychologically will have an effect on a team but I think it could end up a wasted season if they are not in the Champion's League and they don't win that Europa but it's been a strange one for me. At times they are lovely to watch. I really think that they are not far from being back challenging for that Premiership title again."
Hoddle was speaking to Absolute Radio's Rock n' Roll Football with Ian Wright. Every Saturday from 5pm on 1215AM. For more, visit absoluteradio.co.uk/football