The former Chelsea boss is considering launching a summer swoop for the Blues skipper, with whom he won back-to-back Premier League titles.
Wanted: John Terry (right) could be offered the chance to head to Real Madrid
Chelsea, who are set to finish the season empty-handed after their double heroics of last year, will resist any move to sell their fans' favourite.
Although he turns 31 in December, the club still believe he has a number of years left at the top despite struggling with a long-term nerve problem in his right leg, as well as back problems.
Selling their leader would also send out a huge message to their rivals in the Premier League and in the Champions League.
Old pals: Jose Mourinho (left) formed a brilliant link up with his captain Terry
But Mourinho is confident enough over his ability to tempt Terry away from Stamford Bridge that he is ready to make his move, according to Italian sports paper La Gazzetta dello Sport.
The Portuguese, who is determined to break Barcelona's dominance in Spain by rebuilding Real, wants to reunite Terry with his former Chelsea central defensive partner Ricardo Carvalho.
Carvalho has excelled at the Bernabeu this season since Chelsea opted to sell him for ?6.6million last summer.
Mourinho, who has plenty of attacking options up front, feels the pairing could strengthen his defence as they target trophies.
Rock: Ricardo Carvalho (below) has impressed since joining Real Madrid last year
The huge stumbling block is convincing Chelsea to sell up. Terry, who has spent his entire career at the Bridge, is contracted to the club until 2014.
Terry signed the ?160,000-a-week deal after snubbing a move to big-spending Manchester City in 2009. However, Chelsea - who will again rebuild in the summer - may decide now is the time to cash in on Terry while he still merits a sizeable price tag.
They also have Brazilian defender David Luiz to call upon, who has been hailed a future Chelsea skipper since his ?25m January arrival from Benfica.
Mourinho is also considering a move for Didier Drogba, who is likely to be sold at the end of the season as owner Roman Abramovich again reshuffles the playing staff.
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Explore more:People: John Terry, Roman Abramovich, Jose Mourinho, Didier Drogba Places: Barcelona, Spain