Davies, a regular on British television programme QI, aimed derogatory remarks at Roman Abramovich, Jose Mourinho, John Terry and Diego Costa - before branding the 'racist' club a 'stain on humanity'.
The Gunners fan was talking on 'The Tuesday Club' podcast about Arsene Wenger's side's 2-0 defeat to their London rivals.
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His tirade of abuse started with Chelsea's owner, saying: "Of all the reprehensible scumbags masquerading as talent successful stars in their field, you have to start with Abramovich
"Now, he is the billionaire with yachts and legit business interests and helicopters, and the grim reality of the blood-stained gold rush that was the break-up of the former USSR, the handing over of huge state utilities, of the right to print money to oligarchs, to keep them out of western business hands.
"There are no bodies buried, make no mistake. But now, he cruises clear in ugly legitimacy in needy London, where we'll sell anything to any dubious foreign national, without asking what crimes or human rights violations they committed to amass their sickening wealth.
"Of course, a man like that would hire a man like Mourinho, a walking narcissistic personality disorder. And of course, he would have the racist criminal Terry as his leader, and the sociopathic violent thug as his centre-forward.
"And they would be paraded as heroes in front of millions of impressionable children worldwide. it's inevitable, it's a disgusting institution that's rotten from the top all the way down to its racists fans pushing black people off tubes.
"This is far more than a s**t club with no history, this is a stain of football, on London, on humanity."
It seems that Davies was less than impressed following Arsenal's defeat at Stamford Bridge and the comedian finished off by saying he was having a 'massive sense of humour failure over football.'
The sport provokes passionate responses from fans and there has never been much love between the two London clubs - but this takes it to another level.
Davies' controversial remarks may echo the view of many Gunners supporters, but it is sure to make him an unpopular figure in west London. However, I don't think that will bother him.
What do you make of Alan Davies' rant? Have your say in the comments section below!