The Spaniard has persistently pledged his future to Arsenal prior to this season's start, in an attempt to help the London club win trophies.
However, should the Gunners fail to clinch silverware this term, there could a change of plan for the midfield maestro.
Fabregas, a former Barcelona youth academy member, sounded his applauds to the slick football played by the Catalans in late.
Dream
"Right now I'm fine at Arsenal but I cannot deny that to return and play for Barca would be a dream come true," he told radio station RAC 1.
"I chose to stay at the club last summer and right now I'm totally focused on the reason for that decision which was to try and win trophies.
"We'll see how things have gone by the end of the season.
"The fact is that Barca are playing cinematic football right now and it's fantastic to see that the other day when they beat Atletico Madrid 6-1 they had seven or eight guys who, like me, came through the club's youth system."
Fabregas, who had a relatively slow start to the season, scored his first goal of the campaign as Arsenal drew 1-1 at Sunderland last weekend.