The last time the 27-year-old France international featured in Europe's elite club competition was in 2006-07 with Lille, from whom he joined the Magpies in 2011.
Over the summer Arsenal made a bid for him which Newcastle swiftly turned down.
Cabaye was quoted as saying in an interview this week with French radio station RTL: "I miss the Champions League.
"I'll finish this season with Newcastle and concentrate on the coming months and then we'll see."
Newcastle are currently eighth in the Barclays Premier League.