The captain and winger both took part in training on Tuesday, despite Terry being expected not to play again this season after picking up a knock in the first leg eight days ago.
Hazard, meanwhile, suffered up a a hamstring injury in the quarter-final win over Paris Saint-Germain and plays for the first time since April 8.
However, Petr Cech - who was also seen training with his team-mates on Tuesday - is still suffering with a dislocated shoulder so Mark Schwarzer continues in goal.
The game also comes too soon for Samuel Eto'o, who has missed the last 11 days with a knee concern, so Fernando Torres starts up front as Jose Mourinho makes seven changes from the 2-0 win at Liverpool.
Atletico make three changes from the weekend win over Valencia, with Raul Garcia, David Villa and the suspended Gabi making way for Arda Turan, Mario Suarez and Adrian.