The Blues captain, speaking on Sky Sports News at an event in London to launch the new season, feels the top-flight will be the most evenly contested in years.
Alongside 19-times winners United and the Stamford Bridge side, Manchester City, Arsenal, Liverpool and Tottenham can all be regarded as contenders for the crown.
And England skipper Terry has admitted the Old Trafford outfit's obvious desire for continued success is what motivates him to achieve glory for Chelsea.
"We all see the quality they (Man Utd) have got, the hunger they have still got and the manager has," said Terry, as he sat in front of the gleaming Premier League trophy.
"When I see that it really drives me on. They (Man Utd) have set the benchmark for everybody over the last 20 years which we are all trying to catch and achieve.
"When I saw them lift this trophy last year it still hurts today. I want to get my hands back on this and lift it.
"The competition is improving year in, year out, the players are getting stronger and the managers want it a lot more.
"I am worried about a lot of teams. Everyone out there has strengthened. Manchester City and Manchester United have signed some very good players, Liverpool seem to have strengthened an awful lot.
"There are not just one or two sides like there has been over the last four or five years, there are six or seven teams which can really push and have a chance of winning this great trophy."
Terry will be playing under yet another new manager this term following the appointment of Andre Villas-Boas over the summer to replaced axed Italian Carlo Ancelotti.
The young Portuguese tactician first worked at Stamford Bridge under Jose Mourinho, but club talisman Terry insists that the approach their new boss has taken is very fresh.
He said: "He has brought a lot of new fresh ideas to the training, to the way he wants us to play, which will hopefully get us to lift this at the end of the season.
"A lot of the lads knew him from when he was here before under Mourinho, but he has obviously gone away and done his own thing so we have to pay him a lot of respect and treat him as his own man.
"He has obviously learnt from the very best. His whole demeanour and the emphasis he is putting on training, he has brought an awful lot to us in a very short space of time.
"We are ready for the season and we are ready for the Stoke game this weekend. It is going to be a tough game. They have got great support, a great side and a great manager."
Source: Team Talk
Source: Team Talk