The Blues have endured a largely troubled 2019 with few people tipping them for silverware after a disastrous run.
Premier League defeats at Arsenal, Bournemouth and Manchester City – who inflicted upon the West Londoners their heaviest loss in any competition since 1991 – has seen the club tumble out of the top four.
On Monday, they crashed out of the FA Cup at the hands of Manchester United.
However, the club will play in the Carabao Cup final against City this Sunday and are favourites to progress from their Europa League last-32 clash with Malmo, having won the first leg 2-1.
And therefore Fabregas, who left Stamford Bridge for Monaco in January, sees plenty of reason for optimism.
He told CNN Sport: "No, listen, these things happen. It’s a shame really because it’s difficult to experience 4-0 defeats, 6-0 defeats.
"Well, it does (surprise me) because I never experienced that at Chelsea in my five years.
"This is a good team, though, and I believe in them.
"I’m sure they can still win titles this year. 100 per cent I believe that, so they just need to put things together because now is the right time to do it.
"Nothing is lost.
"They can still fight for many things and we have to make sure that we don’t regret it at the end."
Reports have suggested that Sarri could be ousted in his first season if Chelsea are again humiliated by City at Wembley this weekend.
Former midfielder Frank Lampard and ex-Real Madrid boss Zinedine Zidane have been touted as possible replacements, should Roman Abramovich opt to pull the trigger.
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