Quotes attributed to Mourinho on Saturday suggested he intended to sign a new contract with Real - but the Portuguese remains the bookmakers' favourite to succeed Andre Villas-Boas, who was sacked earlier this month.
Following Villas-Boas' exit, Roberto di Matteo will steer the Blues until the end of the current campaign - and while Terry feels the Italian is doing an impressive job, he has still taken time out to hail Mourinho.
"He's a fantastic manager, a very good man-manager as well," Terry told Sky Sports News. "But obviously Robbie's [di Matteo] come in and he's doing a great job. The target has to be to get the club where it wants to be: playing in the Champions League."
Drogba added: "Yeah, it would be nice [to have Jose back]. It would be fun."
Meanwhile, Terry has dismissed suggestions that he is a prominent member of an influential group of senior players at Chelsea, who have been credited with pushing Villas-Boas towards the exit door.
"In all clubs when players don't play there's always misunderstandings," Terry said. "People have got this thing about the senior players at Chelsea having a massive influence - I can assure you that's not the case, and it hasn't been since I've been at the football club. All the players care about Chelsea, the owner certainly does.
"Andre was very good but unfortunately we didn't get the results and it falls on his head. The manager and players all make mistakes together. We all wish him well, he's got a very good future, he's very young as well. It's going to be a learning experience for him."