Terry will leave the club after 22 seasons and search for a new challenge.
And Bilic has opened the door to a move to east London.
John Terry will leave Chelsea at the end of the season after 22 years
John Terry could join any club this summer, says Slaven Bilic
"Every manager and club would think about him because there aren't many leaders like him,” Bilic said.
"But, then again, we have experience in that position. We have good players in that position so never say never but I don't think about that right now."
And Bilic paid tribute to the defender who will leave Stamford Bridge having won four league titles, five FA Cups, three League Cups, the Champions League and the Europa League.
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"When you are talking about leadership and characters on the pitch, you are talking about them – [Steven] Gerrard, [Frank] Lampard, [Rio] Ferdinand and Terry," Bilic told Sky Sports.
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"John Terry is Mr Chelsea. He's done everything and he definitely has at least a couple of years left.
"Whether that will be at West Ham or in the US, I don't know. We don't think about that right now.
"I don't think this is the end of John Terry's career."