Terry announced his international retirement on Sunday.
"Without doubt it is a chance for Phil to stake a claim, it is a terrific opportunity, it really is," said Round.
"He has speed, awareness, and is a very good defender one versus one - which is very important in international football.
"He is also starting to show the composure now which has taken him a while to come to terms with: being able to become really comfortable on the ball, taking the ball from the goalkeeper and building from the back.
"It is great opportunity for Jags and if he gets it he will take it. He is ready for it - I know that - and he feels he can step up that level.
"He certainly has the talent and ability, he just needs to get in now and establish himself."