The Gunners were drawn against Barcelona in the last 16 of the Champions League on Friday.
“This is not some mission impossible,” Fabregas said in The Sun.
“We can win this. Barcelona are not unbeatable. If they were invincible, they would win the Champions League every year.
“Manchester United, Chelsea and Liverpool have knocked them out in recent years. Maybe it’s our turn now – and why not?
“If we want to be champions of Europe, we have to be able to beat anyone and everyone – and that includes Barca.”
Fabregas added: “Don’t underestimate us. We are a very good team and if we play well we will have a very good chance.
“Last year it was Jose Mourinho and Inter Milan who put them out. How many people expected that?
“That game was supposed to be a formality too. Except it wasn’t. And it was Inter not Barca who were crowned champions in Madrid.
“Why should we be afraid? You must acknowledge their quality, respect for them, prepare for them.
“But there is no room for fear. We must face them with the positive attitude and mentality that we can go out against them and win.
“At this knockout stage of the competition there’s little room for mistakes. Get it wrong now in the Champions League and you are in trouble – and that goes for Barcelona just as much as it does for Arsenal.”