The Spanish midfielder has been in superb form for the west London side this term and has been regularly called upon by Conte after having struggled to hold down a regular spot in the first team last season.
Fabregas has started 13 of Chelsea’s 16 Premier League games this term and has earned plenty of praise for his displays for the Blues.
It comes after the former Arsenal captain initially struggled to hold down a regular spot in the first team under Conte at Stamford Bridge last season.
Former Chelsea star Cole is a huge admirer of the midfielder, and claims that he still has a number of years left at the top level, despite him turning 31 next May.
Speaking to Sky Sports on Saturday, Cole said: “As a manager, you’ve got to look at what you’ve got – and in Cesc Fabregas, Chelsea have a diamond.
“There isn’t anybody else like him in the Premier League… maybe David Silva.
“If you get legs around him and get him on the ball… he’s been used so well.
“I think he’s got another five or six years in him at the top because he’s not a sprinter.”
Chelsea will discover their opponents in the last 16 of the Champions League on Monday when the draw is made in Switzerland.
The Blues are aiming to bounce back from their disappointing defeat by West Ham United in the Premier League on Saturday when they travel to Huddersfield Town on Tuesday night.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news