The 30-year-old singer, who was a judge on the popular reality show between 2008 and 2010, posted a 'Throwback Thursday' image of herself sitting next to Simon Cowell on the judging panel.
The image immediately caused a frenzy on Twitter as speculation mounted that Cole was returning as a judge.
"OMG !!!! When there's talks of you returning I can't cope! Hope you do (sic)" wrote one fan eager to see Cole's return.
"Are you trying to tell us something lady c? (sic)" posted another fan.
The Girls Aloud singer was unceremoniously sacked from The X factor USA after just three weeks on the judging panel, following complaints that the American audience couldn't understand her Geordie accent.
The star sued The X Factor USA for £1.4million and had a famous falling out with the show's originator Cowell.
The two claimed to have settled their differences and with the music mogul confirming his return to the UK show the remaining panel is unconfirmed.
Gary Barlow revealed at the end of the last series that he would not be making a return to the show as he is due to tour with his Take That band mates. Louis Walsh too said he would be quitting the role after ten years.
Speaking to at the Britain's Got Talent auditions at London's Hammersmith Apollo, Cowell revealed that he was in talks with Cole about making a return to the show.
"To be fair to Cheryl, it hasn't been about the money with her. It's about whether she wants to do it and whether she can handle the pressure, so I'm not quite sure yet [if she will come back]. She had her poker face on," he added.
The 11th series of The X Factor begins in the Summer.
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