Terry has been advised against travelling to the tournament in Japan due to the possibility that his recovery from knee ligament damage may be hampered by inflammation during the 12-and-a-half hour flight.
Interim manager Rafael Benitez has refused to set a date for his comeback, but was able to confirm that Lampard will participate in Saturday's Barclays Premier League clash with Sunderland.
Lampard has been sidelined since October with a calf problem but has been passed fit, while Daniel Sturridge could feature in the Club World Cup but will not play at the Stadium of Light following his battle with a hamstring injury.
Chelsea depart for Japan on Saturday evening and while Benitez admitted Terry was disappointed to have missed out, he understands his rehabilitation requires patience.
"John was quite excited about the competition because it was something different and a great opportunity," the Spaniard said.
"But we had to be cautious because of his knee problem. He wanted to go and to help, but it's better that he stays.
"We don't know when he'll play. With this type of problem you have to wait and see how he reacts.
"He's training very hard, but knees are a special case because it's not muscle there are lots of joints to fix. He knows we have to be patient."
- Sports & Recreation
- Rafael Benitez