The 36-year-old has made just five appearances for Antonio Conte's side in what is almost certain to be his final season with the Blues, and is currently serving a three-match ban for seeing red during the EFL Cup victory over Peterborough United at the weekend.
Reports earlier this week suggested that the Cherries had enquired about taking him on loan for the rest of the season, but speaking at his weekly press conference, Howe insisted that there has been no contact between the two parties.
"There have been no negotiations with Chelsea at all," he said.
"I admire John Terry greatly as a footballer. He's one of my favourite ever central defenders.
"When I looked at people when I was playing to try and emulate and get close to, he was one that I followed, but there has been no discussions and no meeting, nothing."
Terry has racked up 711 appearances in all competitions during his time at Stamford Bridge, winning four Premier League titles, the Champions League, the Europa League, five FA Cups and three League Cups.