Earlier this week, new manager Carlo Ancelotti said the skipper was invaluable to the club.
"John Terry is the symbol of this team, he will be captain," said the Italian.
"He wants to stay at Chelsea forever and we want to keep him forever. There is a question of Manchester City but for Terry there is no price."
Chairman Bruce Buck added: "As a Chelsea fan I'd be devastated if John left but that's not going to happen - John Terry is synonymous with Chelsea and Chelsea is synonymous with him.
"He has been here since he was a wee tot, he is captain of the club and captain of England. He is the backbone of our team and is not leaving."
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