The Spain striker has netted just 19 Premier League goals since moving to Stamford Bridge in 2011 and looked set for an exit, but the Blues boss insists he is part of his plans.
The Portuguese boss opted to start without a recognized striker against Paris Saint-Germain in midweek, while the Spaniard failed to make an impact off the bench.
"Yes, he has a future here," Mourinho told reporters. "If you want to improve ... I think that's normal and basic.
"Does he have future [at Chelsea]? Yes. He works hard, he brings things to the team, but we want him to score more goals. He wants that too. He's the kind of player I respect, he deserves to be respected, and there's nothing more I can say about it. I think people who give everything they have, you never can complain. [Torres] gives everything. Obviously we want more.
"I think during his period in the club he had moments [of his best] and some of them important."
Samuel Eto'o is still out with the hamstring injury that ruled him out of the Champions League trip to Paris, meaning Torres is likely to feature for the Blues in Saturday's Premier League clash with Stoke as the club bids to recover from two defeats in five days.
Speculation is rife over the future of striker Romelu Lukaku, who is enjoying a fruitful season-long loan spell at Everton, but Mourinho believes the current arrangement is working well for both clubs and confirmed no bids have been made for the Belgium international.
The Blues take on Stoke on Saturday and will also be without John Obi Mikel, but Ashley Cole returns to the squad after a spell on the sidelines with a knee injury.