Fabregas was a big hit during his eight-year spell at Arsenal and was given the captain's armband in 2008 before securing a dream move back to Barcelona in 2011.
However, with Barca set for a period of rebuilding under new coach Luis Enrique following a rare barren season, Fabregas has been widely linked with a return to England this summer
Chelsea are said to be frontrunners for the 27-year-old but Cazorla, who is part of Spain's World Cup squad alongside Fabregas, hopes the midfielder ends up back at the Emirates.
He was quoted by the Spanish press: "I've read that he could go to Chelsea but I'd prefer him to come to Arsenal because he's a great player and they really love him there.
"I don't know what his future is, but I hope that he will be happy and enjoys the team wherever he is."
Cazorla, who joined Arsenal in 2012, also defended Fabregas' displays in the Primera Division, adding: "I don't think there's a big difference between Cesc's performances in the Premier League and La Liga
"His statistics are great at Barcelona but he's not valued the same as in England
There's no difference in his numbers, he's adapted perfectly to both leagues."
Source : PA