Moses, 24, has not played a competitive game for Chelsea since Jose Mourinho returned as coach two years ago.
"It could be he plays a part for Chelsea this year," said Hughes, who failed in a bid to keep the player.
"He showed enough in his time with us that it made Chelsea very aware of the talent they have."
Moses scored four goals in 23 appearances while on loan at Stoke last season and there were suggestions he could be part of a deal to take Asmir Begovic to Stamford Bridge.
However, the Bosnian goalkeeper joined the Blues this week with Dutch midfielder Marco van Ginkel going to Stoke on loan, while the future of Moses was left unclear.
According to Hughes, that could be because Moses has been given another opportunity to shine at the club that he joined three seasons ago from Wigan.
"I think they would possibly like to keep him although if they go into the market again, they could change that idea," he said.
"Victor obviously came to us last year and did exceptionally well for us."

The Premiership club are laying a new organic surface at Sixways, joining Saracens and Newcastle in playing their home games on an all-weather pitch.
"It does change the dynamics of the game slightly," Hogg, 47, told BBC Hereford and Worcester.
"It's part and parcel of the game now - we need to get up to speed with it."
Warriors' three pre-season matches are all away - against French side Clermont Auvergne, Jersey and Munster - while their new home is being prepared.
They start the 2016-17 season against European and Premiership champions Sarries at Twickenham before local rivals Gloucester come to Sixways on 9 September.
And with five of their seven wins last term coming at home, Hogg knows this campaign on their own patch will be even more important.
"It's essential that we find our feet," Hogg said.
"Our new surface should give us an added advantage playing on it every other week.
"You can lock-out the scrums because your feet get more purchase and the mauls and other contact areas tend to be much more cleaner and sharper on a 4G surface and that's something you have to build your decision making around."
Warriors will renew their rivalry with newly-promoted Bristol after Andy Robinson's side finally got out of the second tier last season after four previous play-off failures.
Bristol did the double over Warriors in the Championship two seasons ago but Worcester got revenge winning a pulsating play-off final in May 2015 by a single point on aggregate.
And Hogg is expecting Robinson's side to be a threat.
"Andy's done a fantastic job down there - it's been two or three years in the making," Hogg said.
"They've got some real consistency and they'll be a challenge in the Premiership, especially at Ashton Gate."

Soldiers and riot police are manning the entrance of the building.
It follows last week's court ruling that NFF president Amaju Pinnick lost his post to Chris Giwa in elections in September 2014.
Giwa and his team had said they would occupy and take over the NFF offices to start work on Monday.
The NFF has appealed against the court ruling, insisting that Pinnick is still the head of the federation.
And staff of the Fifa-recognised NFF, including the general secretary Mohammed Sanusi, are currently working in the building.
Giwa's faction and all other non-NFF staff have been denied access into the football house by police, who have been in attendance since Sunday.
"We got here this morning and the police requested our identity cards, then we were let into our offices," an NFF staff member told BBC Sport.
"Only those without any proof of NFF identifications are prevented from coming to the building."
The ongoing power struggle means Nigeria face the prospect of a Fifa ban, which could put their World Cup qualification hopes in jeopardy.
Nigeria forward Victor Moses may now be given a chance to play at Chelsea after returning from his loan deal at Stoke, says Potters manager Mark Hughes.
[NEXT_CONCEPT]
Worcester Warriors head coach Carl Hogg has admitted it is "essential" they become a force on their new artificial pitch next season.
[NEXT_CONCEPT]
Security forces are controlling who enters the main office of the crisis-hit Nigerian Football Federation in the capital Abjua, BBC Sport has learned.