Moses spent last season on loan at the Britannia Stadium, but Hughes has been frustrated so far in his attempts to take him back to the Potteries.
Hughes told Sky Sports News: “I think Chelsea have taken a view that they would like to keep him. Of course, they may go into the market again and that might change that idea that they have.
“He did really well for us last year despite some injuries but it looks like Victor could play a part for Chelsea this year.”
Hughes also wished Asmir Begovic the best of luck at Chelsea and believes he has plenty of healthy competition in the race to become his successor.
He said: “We wish Asmir well, he’s onto the next chapter of his career. He did really great things here at Stoke and we’re pleased he was here for that time.
“He was part of a successful period here. I wouldn’t be surprised to see him challenging Thibaut Courtois for the No 1 jersey at Chelsea. But he’s moved on and we will move on very quickly too.
“Obviously we have brought Shay Given in, we have got an outstanding young keeper in Jack Butland and Jakob Haugaard has joined us as well, another good young keeper. In terms of that department we are very strong and I would expect a good fight to see who makes the No 1 jersey their own.”
Stoke are currently on pre-season tour in Singapore where they will play Everton on Wednesday before facing either a Singapore Select XI or Arsenal in the final or third-place play-off on Saturday.