Rooney, 23, will win his 50th cap if selected against Ukraine in Wednesday night's World Cup qualifier - a milestone achieved by Terry against Slovakia.
Related ArticlesBecks: Beating record 'incredible'Injury toll mars England winEngland kit gets thumbs upHow the English players ratedInternational actionDavid Beckham stands up for Wayne RooneyAnd the Chelsea defender feels Rooney has the potential to achieve so much more with the national team.
"He potential is frightening," Terry said. "We were speaking about Becks and my 50th cap on the way here and I was saying to Wayne he could possibly get to 150," said Terry.
"It is a reachable target - and certainly 100.
"Wayne has probably missed 20 games through injuries and suspensions, but he is very young, very talented and one of the best in the world that is for sure."
Terry added that Rooney thrives in a free attacking role.
"I have said before to let Wayne play, because that is what he is best at doing. Wayne is growing into a very mature man both on and off the field.
"We love seeing him play with freedom and he plays very well like it."
On his own achievements in reaching 50 caps, Terry reflected: "When you first come in the squad you aim to get to 50, and now I am there I can hopefully kick on and get many more.
"Now I really want to push on for 100 and that means staying fit for Chelsea and playing as many games as possible for my country."
Tottenham forward Darren Bent has been called into the squad after Carlton Cole, who had come on to replace injured goalscorer Emile Heskey, was ruled out with a thigh problem.
Heskey has also been forced to pull out with a hamstring injury.
However, Manchester United defender Rio Ferdinand should be available for Wednesday's game after scans on a groin injury which caused him to miss out against Slovakia revealed no damage. ".