Arsene Wenger's side were linked with the Spanish international throughout the close season, with the 27-year-old's exit from Anfield believed to have been hinging on whether Aston Villa skipper Gareth Barry completed his well-documented switch from Villa Park to Merseyside.
However, in the end neither transfer was completed, with Alonso going on to star for Rafael Benitez's side in central midfield this season, proving influential in the Reds' quest for a first league title in 19 years and scoring the goal that ended Chelsea's 86 game unbeaten record at Stamford Bridge.
And Fabregas has admitted that Alonso would have proved an excellent signing for the Emirates Stadium outfit.
“I like to play with Xabi, of course, he is an incredible player,” he said.
“Last year, there was such a possibility because Arsenal was chasing him, but finally he ended up staying in Liverpool.”
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