Jose Mourinho insisted Chelsea would take time to consider their squad options this summer, but a one-year extension for captain Terry is a statement of intent for business to be concluded early.
Any lingering uncertainty over Terry's future was ended when the 33-year-old defender agreed a new deal until the end of the 2014/15 season after being rejuvenated by Mourinho's return.
Terry, who joined Chelsea as a 14-year-old schoolboy and has now made 621 appearances, said on the club's website: "I'm delighted to have signed an extension to my contract with Chelsea taking me into my 20th year with the club.
"I'd like to thank the fans and club for their continued support, and the manager who was instrumental for me the last season."
Terry's form this season meant keeping him was imperative.
Chelsea chief executive Ron Gourlay said: "It is important the matter has been concluded so soon after the end of the season, allowing us to look forward to and plan for 2014/15."
The futures of record goalscorer Lampard and England centurion Cole are less certain, with both out of contract on June 30.
Lampard, who is 36 in June, has been ponderous at times this season, while Cole has been a peripheral figure and is understood to be considering his options elsewhere.
The recruitment of a prolific goalscorer is a priority, while any other incomings could be determined by departures, with Chelsea attempting to abide by UEFA's Financial Fair Play regulations.
Reports continue to circulate that a transfer has been agreed with Atletico Madrid for striker Diego Costa, with David Luiz's rumoured exit close in a potential move to Barcelona which would match the Blues' outlay on Costa.
Costa reportedly has a £32million release clause and shares an agent with Mourinho, Jorge Mendes.
Confirmation of the move may have to wait until after the May 24 Champions League final, when Atletico take on Mourinho's former club Real Madrid.
Mourinho, who presented his end-of-season report to the Chelsea hierarchy on Monday, insists his squad does not require major surgery.
And if, as he expects, the additions he wants happen this summer, the Premier League title will be next season's objective.
"Next season we can start day one and we can say without any kind of fears that we are there not to fight for the title, to win it," Mourinho said on Monday night.
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