The Saints legend is, however, anticipating a draw between the two sides.
The Saints have had a slow start to the season after impressing last year under Ronald Koeman, currently sitting 10th in the table with nine points from a possible 21.
Chelsea are enduring an awful start to the season, though, taking just eight points from 21 and sitting 14th in the table, with a midweek loss to Porto in the Champions League further highlighting their sorry run.
The pressure is firmly on Jose Mourinho and his side, and Le Tissier believes his old club are more than capable of taking something from their trip to Stamford Bridge.
"We're more than capable of beating a team like Chelsea,” he told Sky Sports.
“We've gone there and got a result when Chelsea were in far better form, so I certainly believe we can get something, although I don't want to be too optimistic so I'm predicting another draw.”
Jose Mourinho must take some portion of the blame
On the subject of Chelsea, Le Tissier says that although Jose Mourinho must take some portion of the blame, he cannot account for individual mistakes.
While his players were on fine form for most of last season, a number of players have stumbled out of the blocks this term, with the likes of Eden Hazard, Cesc Fabregas and Eden Hazard in particular looking a shadow of last season’s star turns.
And Le Tissier says collectively that is a big problem, as there’s not many playing to their full potential.
"There's not many players in that team playing to their full potential and collectively it's a massive problem,” he added.
"[Jose] Mourinho has got to take his portion of the blame as he picks the team and the tactics but he can't prevent the amount of individual errors that are happening, which must be hard for him to take."