Ex-Arsenal defender Martin Keown believes Ashely Cole would love to re-join the Gunners, reports The Daily Mail.
However, the former England international has insisted that he doesn't expect Cole to make a move back to north London.
The Blues full-back has struggled with life at Stamford Bridge this season, having been replaced by Cesar Azpilicueta in the team in recent months.
And, despite Keown believing that the Arsenal boss would be tempted to bring Cole to the Emirates, he can't see it happening.
Keown, who was answering questions for the Daily Mail, said: "I can't see it, no.
"I'm sure Ashley would love to go back and a part of Wenger would like to take him back.
"He wouldn't want to block the paths of the two left backs fighting for the place, Nacho Monreal and Kieran Gibbs.
"When Monreal came to the club this time last year, left back was an issue.
"Santos had lost form and Gibbs was injured once more. Monreal was brought in and he's a Spanish international.
"To get into that squad you have to be decent.
"Unless something like that happens again it doesn't seem likely.
"I'm very surprised he's not playing for Chelsea. For me the only reason he doesn't is he doesn't have the support of his manager.
"John Terry is no different, to Cole, but he has the support and is playing."
Arsenal will be desperate to pip Cole's current side to the title this season as the two teams are currently in a three way race for Premier League glory.
The Gunners currently sit two points in front of Chelsea and Manchester City and have the chance to temporarily move further ahead of their rivals with victory over Liverpool tomorrow afternoon.