Terry made his debut at Chelsea in October 1998 and has gone on to enjoy an outstanding career for both club and his native England.
The defender fell out of favour at Stamford Bridge last term and started just 11 league matches, leading to speculation about his future.
The return of manager Jose Mourinho has seen Terry become a regular again, though, with the captain playing all but two of Chelsea's Premier League fixtures this season.
And Holland revealed on Friday that a fresh deal could be signed by Terry in the near future.
"John has had an outstanding season," Holland said.
"We have the best defensive record in the Premier League and he's played in almost all of that and been a major part of it all.
"I know that John wants to stay at Chelsea, and Chelsea want John to stay, so hopefully that situation can be concluded amicably over the next few weeks."
Frank Lampard and Ashley Cole could also sign extensions to their current deals after an impressive Chelsea campaign to date.
Chelsea can win the Premier League title if they claim victories in their final four matches, while their UEFA Champions League semi-final begins on Tuesday against Atletico Madrid.
"It's the same situation (with Lampard and Cole)," Holland added.
"We're dealing with not just normal players, but magnificent servants for this club over a long period. So full respect will be given for those players."
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