Terry came close to leaving the club last year but eventually agreed a new deal to extend his stay at Stamford Bridge.
The 36-year-old subsequently retained the armband under Antonio Conte but has only been deemed worthy of 10 appearances this season, just five of which have been in the Premier League.
Terry will be free to continue his playing career elsewhere once his contract expires but Standard Sport understands he could yet be handed a coaching or ambassadorial role by Chelsea.
The central defender ignored transfer offers in January in the hope that he would be able to add a fifth Premier League title to his individual trophy cabinet before departing.
Such a decision is on the verge of being vindicated with Chelsea boasting a 10-point lead at the top of the table ahead of the run-in, while Terry has already played enough football to secure a medal.
Terry is understood to remain a target for Chinese Super League clubs, some of whom have already used Chelsea as a key recruitment ground with former Blues representatives Ramires, Oscar and Mikel John Obi all plying their trade in the Far East.
North America is another potential destination for Terry, who could follow in the footsteps of Frank Lampard and Steven Gerrard by joining an MLS franchise.
READ MORE: Terry denies rift with Chelsea boss Conte