The 35-year-old has found his first-team opportunities at Stamford Bridge to be severely restricted this season as he approaches the end of his career.
With so many new players linked with the Blues in recent weeks, it seems highly likely that Chelsea will be a markedly different place by the beginning of the 2017-18 campaign-particularly given their leader Terry will no longer be in the dressing room.
John Terry has made 713 appearances for Chelsea since the defender made his debut for the Blues in 1998.
With the loss of Ashley Williams in the summer, signing John Terry would bring leadership qualities back to the Liberty Stadium.
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"After 22 years, there is so much to say and so many people to thank at this great football club", Terry said in a statement.
14 Major honours Terry won with Chelsea, including one Champions League title, one Europa League title, four Premier League titles, five FA Cups and three League Cups.
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"I'll never be able to put into words the love I have for you fans", he added.
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But it is understood that the centre-half is fully focused on helping Chelsea win the Double and does not want any talks over his future destination to distract him from that.
Chelsea boast a four-point lead over Tottenham in the title race and also face them in the FA Cup semi-final on Saturday.
"I've always been conscious that I depart at the right time, in the right way, and I feel that the end of this season is the right time for the club and I".
"This has been the toughest decision of my life for me and my family, but I always envisaged leaving on the right terms, in the right way and at the right time - and that is now". An absolute legend and he'll certainly go down as Chelsea's greatest player. If Terry (left) moves to China, he would join former Chelsea teammates such as Oscar, Ramires, Jon Obi Mikel, Oscar, Alexandre Pato and Ricardo Carvalho.
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