The left-back has two years remaining on his current contract, but has been linked with a summer move to Manchester City.
Reports claim that Chelsea are willing to offer the England international a new deal to ward off any interest from their Premier League rivals.
And former Arsenal defender Cole has hinted that he would be willing to extend his time in West London as he looks to win more silverware.
"I'm at Chelsea and it's a new chapter in my life," said Cole in the Daily Express.
"Hopefully, I can win a few more trophies here and that will make it even better.
"Since I've been at Chelsea I've had a great time and won a lot of trophies, but I want to win a lot more in the future with Chelsea."