This contribution reflects on the current role of ontologies in terminology research and practice and their future role, especially with a view to the creation of fully digital terminographic resources. The very notion of (domain) ontology, its concept and term, is discussed, highlighting metaterminological differences and substantial ambiguities arising from the interdisciplinary contact between Ontology Engineering and Terminology. Major challenges in ontology building, e.g. subjectivity, are mentioned, also with respect to the distinction between realist and non-realist ontologies and their relevance in Terminology. In addition, this contribution presents some examples of terminology resources with a distinct ontological component, showing a diversity of approaches depending on the purpose of the resource and its scope. In this context, more specific topics are addressed, such as the acquisition of ontological data and suitable formats and models for representing domain knowledge. The contribution ends with a vision of the integration of complex concept systems such as ontologies in future terminology work: here, the development of models based on terminology-specific requirements and typical users will be fundamental.