Terrazas was a pivotal figure in the history of the state of Chihuahua from the middle of the 19th century through the outbreak of the Mexican Revolution.

He was a leader of the Cientificos during the regime of Porfirio Díaz and was the founder of the influential Creel-Terrazas family.

He acquired his properties in a number of ways; one significant advantage was that, as governor of the state, Terrazas was able to move armed forces into and out of portions of the state, creating instability in prices and buy good rangeland where prices had decreased.

[3][4] In 1902, he sold a ranch, Hacienda Humboldt at Julimes, near Delicias, Chihuahua, to a group of sponsors organized by President Theodore Roosevelt for a colony of South African Boer refugees.

Villa was also the leading suspect in the abduction of Terrazas' eldest son, Luis, during the Revolution.