The 36-year-old chose to join Villa in the Championship having ruled out a Premier League move following 22 years at Stamford Bridge, admitting playing against the Blues "just doesn't sit right" with him.
Speaking about managing his former club Terry said: "That's a goal. Me and Lamps (Frank Lampard) have had those conversations. Do you dream too big? I don't think you can ever dream too big.
"I've always wanted to be the very best and if that's in management, then Chelsea's the one. That would be incredible but I realise as well you can't go in somewhere like Chelsea as your first job."
Terry, who made over 700 appearances and won 15 major honours with the Blues, signed a one-year deal with Villa on Monday after snubbing more lucrative offers to remain in the top flight.
Swansea and West Brom were keen to keep him in the uppermost division but the ex-England captain, whose capture was announced in a faux WhatsApp conversation by Villa, revealed he was uneasy about representing one of Chelsea's Premier League rivals so soon after bidding farewell.
"Playing against Chelsea just doesn't sit right with me, to be honest," he said. "Whether that's different in a year's time, I don't know. The raw emotion of leaving the club after so long there...(playing against them) just didn't sit right with me.
"I had a lot of big financial offers to play in the Premier League and still play at the top, but once I took that decision out of it - that I wasn't playing in the Premier League - this was an easy one for me.
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