The 32-year-old arrived at Stamford Bridge in 2010, but was loaned out to the Gunners upon Andre Villas-Boas’ appointment last summer.
The Portuguese tactician lasted just nine months in charge, with his successor Di Matteo leading the Blues to Champions League and FA Cup glory.
Arsenal opted against making Benayoun’s loan move permanent. And the Israeli is now ready to prove his worth to the Italian and has already trained alongside new arrivals Marko Marin, Eden Hazard and Kevin De Bruyne.
"Now I am back at Chelsea for pre-season, the hard part of football, and I'm trying to do my best in front of Robbie [Di Matteo], so we will just have to see what happens in the future," Benayoun told the club's official website.
"A lot has happened since I was last here. Unfortunately it didn't work out with Andre Villas-Boas, results weren't good enough but Robbie took the team, and we won the FA Cup and Champions League. I kept in touch and it was just great to see the club winning these trophies.
"I was at home for the Champions League Final, as the next day I was joining up with the national team. It was amazing to watch and enjoy.
"When you thought Bayern [Munich] would win it, suddenly Didier Drogba was there like always to score an important goal and of course I was so happy for the club, the players and the owner. Hopefully this season the club will win a few trophies again."
Regarding his spell with Arsenal, where he made 25 appearances, Benayoun added: "First of all the most important thing was that I enjoyed my time with Arsenal, and football-wise, I can separate the season into two parts.
"When you play more you enjoy it more and in the last few months of the season I played more and in important games, and I scored a few important goals so I finished on a high, and we had a strong finish. It was a good feeling, I was happy at the end of my time there, and the fans were very supportive of me.
"The club was happy to finish third. At the beginning of the season people were saying Arsenal would never be in the top four because we were 16th, 17th in the table, but there was a lot of quality in the team and we had a very good run.
"We did it in the end and it was important to finish above Spurs, because we all saw what happened after with the Champions League"
