Hazard has long been linked with a mega-money move to the European champions.
The Belgium international recently revealed he had made a decision on his future and would announce it “soon”.
After giving the Blues seven seasons of service, the winger is reportedly hopeful of securing a move to Real Madrid
The west Londoners are likely to demand a fee in the region of £100m, with Isco potentially exiting the Bernabeu as a result. in the summer.
Fabregas quit Chelsea for Monaco in January but remains good friends with Hazard.
And he says the decision could still go either way, despite his former team-mate’s reluctance to extend his contract.
“Let’s see what he decides to do,” Fabregas told Radio Marca.
“He has a year and a half left and he is happy at Chelsea and so is his family.
“But in the end they are very personal decisions.
“He likes Madrid and he has always said it.
“Hopefully he will renew with Chelsea, but if he does not he will finish in Madrid.”
Hazard won two Premier League titles, the 2018 FA Cup and the 2015 League Cup alongside former Arsenal star Fabregas.