The Frenchman featured in Europe's elite club competition with Lille, years before moving to the English Premier League in 2011.
Arsenal unsettled the 27-year-old France international in the off-season after making a bid which manager Alan Pardew was unhappy with.
But Cabaye may still be leaving St James' Park as he looks for a return to the Champions League.
"I miss the Champions League," he told French radio station RTL.
"I'll finish this season with Newcastle and concentrate on the coming months and then we'll see."
Cabaye has started eight of Newcastle's 10 Premier League games this season, scoring twice with Pardew's men sitting eighth.
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