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Published 14:58 11 Feb 2016 GMT
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The former England captain has clearly stated that he does not see himself finishing his playing career with the Blues but believes that he still has a couple of years left in him and that he still feels on top of his game.
So where next for Terry?
Well we know for sure that he wont be moving to one of Chelsea's direct Premier League rivals. Recently he confirmed this: "No, I couldn't do that to the Chelsea fans. I couldn't play for another Premier League club."
Here's what we reckon are the four most likely destinations for the 'one club man'.
Recently he said 'he feels in great nick' and his solid performances certainly back that up.
It would come as a shock if some European powerhouses aren't interested in procuring Terry's services when he becomes available.
His free agent status will only add to his appeal and that, together with his current form, vast experience and leadership qualities make him a very attractive acquisition for some of Europe's big boys.
Clubs like Sevilla and Roma could do a lot worse than bringing Terry on board.
Both clubs are doing reasonably well in their respective leagues, are challenging for Champions League football and are typically good going forward but may need strengthening at the back.
Terry's experience in Europe would be an enticing proposition to either of these two clubs. If Roma is his next port of call, here's hoping he's more popular than former teammate Ashley Cole.
The pay would be good, the standard of football would be decent and the lifestyle would be attractive for Terry and his family.
Clubs like DC United, FC Dallas, San Jose Earthquakes and New England Revolution would all be willing to splash the cash on Terry and they have plenty of roster spots left so the deal would run relatively smoothly.
Former Chelsea player Ramires moved to Jiangsu Suning and is currently on £10m a year, after tax. Other players who have made the move from Europe include Gervinho, Jackson Martinez and Alex Teixeira.
The very lucrative precedent has been set and if an enticing financial offer came in then who knows? Terry could be lining up for Shanghai Shenhua in the very near future.
Qatar Stars League
It may seem far-fetched but Terry could be joining Al Arabi of the Qatar Stars League.
They could more than afford him because of huge investment from those involved in the oil business. Not to mention the fact that Chelsea legend Gianfranco Zola is the new manager and has said he is eager to bring the veteran to Al Arabi to inject some much-needed experience to the squad.
Players of Xavi's calibre have already made the move to Qatar so it may not be long before we see JT playing in the top tier of Qatar football.Football

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