Lampard is the favourite to become the next head coach at the west London club after Maurizio Sarri officially left to take over Juventus on Sunday.
Significantly Lampard’s uncle, Harry Redknapp, admitted on Monday he will be shocked if his nephew doesn’t get the post.
The former England international still has two years left to run on his current contract at Derby having been appointed last summer.
It has been reported that Derby has tried to open negotiations over an extension in the hope he will stay on next term.
However, Standard Sport understands that the 40-year-old informed the Championship side last week of his desire to take charge at Stamford Bridge should the opportunity arise.
Chelsea will have to pay £4m in compensation for their ex-midfielder, who scored a record 211 goals for the Blues between 2001-14.
The fee will not put Chelsea off from making a move and Derby fear they are going to lose their asset after just one campaign at the helm.
Former Tottenham and West Ham boss Redknapp feels it is only a matter of time before Lampard is unveiled by Chelsea.
Speaking to talkSPORT on Monday, he said: “I think it will be a major surprise if he does not get the job. It looks to me as though it will happen.
“It’s brilliant for him. A shame for Derby. He has gone up there and done a good job. I’m sure Derby they loved having him there, the fans and everybody so it will be a shame for them, the club, the fans, but for Chelsea, it is a great move for them.
“He is idolised at Chelsea. He is a genuine legend there. He knows the game, he knows what it’s about, he has a touch of class and I think he will be great.”
Chelsea has considered a number of options since Sarri confirmed he wanted to return to Italy following the victory over Arsenal in the Europa League Final last month.