The Villans face Middlesbrough in the first leg of their Championship playoff semi-final on Saturday afternoon, having finished fourth in the table.
Terry, who joined the West Midlands club last July on a one-year deal after leaving Chelsea, had said upon his arrival at Villa Park that he did not want to play in the Premier League, lest he came up against his former club.
However, the 37-year-old has now stated that he would be happy to remain with the club should they manage to end their two-year tenure in the second tier.
"I hope this isn't the end," Terry told the club's official website. "If we go up, I'm staying. And hopefully I can play for a few more years in the Premier League.
"It's only fair that if we go up, which is the belief within the group, that I stick around. It's in my contract when I hit a certain number of matches.
"I've thoroughly enjoyed it here and love the way I've been accepted. I had to perform to get the approval of the fans and the group, and it was a big call by the manager, too, to sign someone at 36 years of age and coming to the end of their career.
"The job isn't done yet. We've got a few more games to go. But hopefully I am here next season."
The former England captain has made 32 league appearances for Villa, helping them to seal a playoff place for the first time in their history.