New Blues' boss Andre Villas-Boas says he will keep faith with Terry, the club's most successful skipper.
But he also From Back Page revealed he will be looking for new leaders within his squad who are capable of taking on the armband.
Villas-Boas said: "John is the captain of this club and will continue to be, as long as he can perform to the utmost of his ability as he has in the last six years.
"He has been successful in his captaincy for most of the time.
"And he represents the successful history of this club in the last six or seven years.
"I know most of the players in the dressing room see John as a leader and a player who motivates them.
"So, if John is in the team, he will be the captain."
Terry will be relieved to keep the job but will certainly not like the suggestion that he may not make the team.
But AVB is promising to judge all players on merit, not past status.
And he also delivered a thinly-veiled warning to his captain, as well as the rest of his squad - to steer clear of trouble off the pitch.
The Chelsea coach demands his players are role models and will have a low threshold when it comes to bad behaviour that discredits the club.
He added: "We want them to triumph as persons, as social role models. When they do that, they triumph as players as well.
"And if we find other leaders, more social role models, for sure they will have the captaincy as well.
"Like Lamps and Didier who have taken the captaincy in different games.
"Because in the end, it's not a question of saying John is the only leader.
"There are lots of leaders in the dressing room."