Terry picked up what looked to be a serious knee injury during Chelsea’s 1-1 draw with Liverpool on Sunday.
The Chelsea skipper appeared to be in agony as he accidently collided with Liverpool forward Luis Suarez, and he left Stamford Bridge after the game in a leg brace and on crutches.
It was feared Terry, who was making his return from a four game suspension against Liverpool, could miss the remainder of the season.
However Chelsea confirmed they expected the defender to be out of action for less than a month, while some reports claim he could be back in action in as little as two weeks.
A statement on Chelsea’s website read: “Today's MRI scans on John Terry's right knee thankfully show no significant damage to the cruciate ligaments.
“Chelsea Football Club's medical team will conduct further tests over the next two or three days once the swelling has subsided to determine how long John will be out, but it will be a matter of weeks not months.”
The 31-year-old scored his side’s opening goal in the draw on Sunday, which Suarez cancelled out in the second half to ensure the spoils were shared.
Chelsea boss Roberto di Matteo admitted after the game that he was fearful Terry faced a long spell on the sidelines.
"When a player like John reacts like that you know it is a painful one," said the Italian.
"When he started the game he scored the goal and showed the qualities he has. He showed his experience and influence. It was a real shame he had to come off."
The draw against Liverpool means that Chelsea are now three points off the pace of Premier League leaders Manchester United.