Terry, 36, will leave Chelsea at the end of the season but intends to continue playing on, although Standard Sport understands the defender will only make a decision about his future once the current campaign ends.
Terry, who has won every major honour at Chelsea, is likely to be targeted by a number of clubs both in England and abroad when he departs Stamford Bridge.
Clement knows Terry well from his time coaching at Chelsea, which included a two-year spell working as Carlo Ancelotti's assistant.
With Swansea also having Blues legend Claude Makelele within their coaching ranks, Clement has admitted he would consider making a move for Terry - but only if the relegation-threatened club can avoid the drop this season.
He said: "If we stay up why wouldn't we be interested? I know John very well as a player and a person and I would be more than happy to speak to him.
"That is not something I have thought about at this point, we have to focus on the players and games we have got.
"When the season finishes we can have those discussions about our own players and potential targets. But having worked with John, I know what a fantastic player he is and what a career he has had.
"He has unbelievable talent and he is a fantastic leader - one of a dying breed of leaders.
"He has represented that club so well over so many years in a time when players are too quick to move on and go from club to club.
"He's spent virtually his whole life playing there and congratulations to him for such an amazing career."