The 26 year old midfielder joined Barcelona in a £35m deal in 2011 and is open to a return to the Gunners.
"I am very happy that a player of his intelligence, technical ability and knowledge of the game would come back one day," said Wenger.
Spain international Fabregas also believes that Arsenal have the "strength of character" to make a strong challenge for the Premier League title.
"I hope he is right on the two sides," added Wenger. "That he'll come back shows he has kept fond memories of this club."
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