Lampard has been in fine form in recent months but has not been offered an extension to his Chelsea contract, which ends at the end of this season.
Terry thinks that Lampard's dedication to staying at the top level proves that he deserves to spend the rest of his playing career in West London.
He told The Sun: "Frank has so much more to give and he has been an inspiration to everyone at the club.
"He has got years ahead of him and we all hope they will be spent here at Chelsea. I am not even going to entertain the idea of him playing for another club.
"Even at his age, he is still the best trainer by a million miles."