Conte's three-year deal was cut short at Stamford Bridge on Thursday with former Napoli boss Maurizio Sarri set to succeed him.
Conte won the Premier League title in his first season, but that initial success was soured by an off-the-field power struggle over the club's transfer policy.
That title-winning season in 2016-17 was Terry's final campaign at the club, and the former Blues captain has taken to Instagram to pay tribute to his old boss.
Attached to a picture of himself and Conte celebrating their title success, he wrote: “Thank you boss. Great man, great manager."
“I wish you every success in the future."