Fikayo Tomori will be allowed to go out for the remainder of the season after falling down the pecking order, according to The Telegraph.
The news will spark a scramble among Premier League teams for the England international.
Tomori is currently competing for a place with Thiago Silva, Kurt Zouma, Andrea Christensen and Antonio Rudiger.
The 22-year-old has only started in the Carabao Cup so far this term.
Injuries to Lampard's alternative options, The Telegraph add, could see plans altered.
The one-cap centre-back won't be short of suitors, with Everton seriously looking at him in the summer before signing Ben Godfrey instead.
Tomori's hopes of getting into the Chelsea team this season took a major blow at the weekend when Lampard turned to Antonio Rudiger to replace Thiago Silva for the 2-0 win against Newcastle.
After the match, the Blues boss admitted the problems of having five centre-backs at his disposal, and sung the praises of Tomori's rival Rudiger.
This article was most recently revised and updated 2 years ago