The Belgium international scored 16 times in the Premier League in the 2018-19 season to help the west London side finish in the top four.
Hazard has little over 12 months left to run on his current contract at Chelsea FC and the 28-year-old could become a free agent next summer.
Unsurprisingly, Hazard has been linked with a potential move to La Liga giants Real Madrid this summer as Chelsea FC contemplate a potential return on their number 10.
The Chelsea FC star has been regularly linked with the European superpower since his rise to prominence at Chelsea FC during his first Premier League title success in 2014-15.
Former France midfielder Petit believes Hazard will end up at Real Madrid this summer, adding that the Blues will struggle badly without their talisman.
“It would be a big, big loss for Chelsea if Eden Hazard left the club,” Petit told Paddy Power.
“For the last six years he has been marvellous for them – and this season has been one of his best so far, even if he wasn’t named in the Premier League team of the year.
“Chelsea have so many quality players, but none at Hazard’s level. He can do whatever he wants on the pitch and is capable of making decisions with the ball at his feet.
“Hazard going to Real Madrid would be a huge step for him – and he deserves it.
“But with the added complication of a transfer ban, if he goes then you look at Chelsea and wonder who is going to make the team alive on the pitch. Who is going to come up with the key dribbles, the key passes?
“Chelsea don’t have anyone else like Hazard. And because of the transfer ban, they don’t have the power to replace him. I don’t see how they can cope next year without him.”
Hazard has won two Premier League titles, the FA Cup, the League Cup and the Europa League since his move to Chelsea FC from Ligue 1 side Lille in the 2012 summer transfer window.
The Belgium forward will be hoping to add another Europa League trophy to that haul when Chelsea FC take on Arsenal in the Baku final on Wednesday night.
Hazard arrived at Chelsea FC a matter of months after their Champions League triumph in 2012.
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