The England captain and fellow stalwart Frank Lampard have been locked in talks over new Blues deals for months now as they seek parity with the club's top earners.
The latest reports suggest Terry, at least, will put pen to paper soon on a contract which would make him the Premiership's best-paid player.
And French World Cup winner Lebouef, who played alongside Terry at the back for three seasons before his 2001 departure, cannot see his former team-mate ever quitting.
He said: "I don't know about Frank Lampard, but I think John Terry has already made his choice.
"Chelsea means everything to him - it's like his second wife, or his mistress!
"I really believe that John Terry and Chelsea can't be anything else but together."
One player whose ties to the west Londoners are not so strong, if persistent reports are to be believed, is Arjen Robben - again being linked with a big-money switch to Real Madrid.
Leboeuf said: "It's always a good move, Real Madrid. It's a big club, that's all I can say."
