The England defender is suspended for the final at the Allianz Arena on May 19 following his red card against Barcelona in Tuesday's semi-final second leg at the Nou Camp.
However, despite having to watch the match from the stands, Europe's governing body this afternoon confirmed Terry would be able to join in with any post-match celebrations.
A statement read: "If Chelsea win the 2012 UEFA Champions League Final, John Terry will be allowed to lift the trophy and collect the medal."
Terry was shown a straight red card during the first half of the semi-final against Barcelona when he kneed Alexis Sanchez in the back.
Despite the setback, 10-man Chelsea went on to record a famous result as they held the hosts to a 2-2 draw as Fernando Torres struck a late goal to progress 3-2 on aggregate.
Afterwards, Terry, 31, apologised to fans.
"It does look bad on the replay," he said.
"I raised my knee but hopefully the people out there who know me, know I'm not that kind of player.
"At the time I was bewildered, but looking at the replay it looks a red card. On a personal note, of course (it hurts I miss the final), but we deserve to be in the Champions League final.
"I really hope that doesn't take away from this win."
UEFA's control and disciplinary body will decide the length of Terry's suspension on May 31.
European football's governing body have the power to extend the punishment, which would apply to next season's European Super Cup and possibly early Champions League or Europa League matches.
Terry will be joined on the sidelines in Munich next month by Ramires, Raul Meireles and Branislav Ivanovic, who will all serve one-match bans after picking up their third bookings in the competition.
However, the international players' union FIFPro have issued a plea for clemency by UEFA to allow the players, three from each club, who were all shown yellow cards in the semi-finals, to play.
The players' union points out that UEFA will adopt FIFA's policy for Euro 2012 where existing yellow cards are waived after the quarter-finals.
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