The former England international - who had a two-month loan spell at Forest from Chelsea during the 1999-00 season - left his post as Aston Villa No 2 back in July and is waiting for the right opportunity to arise to take his first managerial job.
He was linked with Forest over the weekend, but Terry said: "I just want to distance myself from the Nottingham Forest job, and all the speculation surrounding myself with the job.
"Unfortunately I can't control the media, but it's important to know it has nothing to do with me whatsoever.
"Chris (Hughton) is the manager and someone I have a lot of respect for. I wish Chris and the team all the very best for the season.
"It's unfair when Chris is in a job to put my name to something."
Need a VPN? Or seeking to switch? Then support Tribal Football by clicking here to sign up with our official partners NordVPN. Not only will you receive the best VPN experience, but also great discounts by signing up via Tribal Football. Thanks for your support!