The Blues enjoyed penalty shootout success against Bayern Munich to secure a double - with the FA Cup already won - which few expected when former manager Andre Villas-Boas was sacked in March.
Interim boss Roberto Di Matteo welcomed players such as Lampard back into the fold and the 33-year-old says that the Stamford Bridge old guard can play on.
"Teams are always changing, but why should we stop now?" he told reporters.
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The former West Ham man also praised Di Matteo’s bravery in recalling some of the players who were being phased out under Villas-Boas and claimed that their will to win turned the season around.
"The key players have been there a long time and we want to win, we are determined to win, in the dressing room we have a tough group,” Lampard declared.
"We struggled earlier in the season, confidence was low, but there is a real determination here, and when times are hard, we dig in.
"If you had asked me three months ago if we would win this competition, I would have laughed. But we have done.
"It's the best footballing night of my life - the hour we spent on the pitch with the fans afterwards," he added.
"I've been here 11 years and I've been waiting for this baby for a long time. I'm pleased we haven't won it before, because it feels even more special.
"That might sound stupid but, to wait so long and to do it the way we did with the season we've had, the spirit in the team - amazing."
|"I've been here 11 years and I've been waiting for this baby for a long time ... it feels special"
- Frank Lampard on Champions League triumph
And, despite the disappointment of the 2008, when they were beaten by Manchester United on penalties, Lampard insists that he never thought that the Blues would lose this time around.
"Once it went to penalties, I thought there was no way we were going to lose. I thought, 'We are going to win this'," he continued.
"It wasn't going to be a repeat of Moscow, we couldn't have stood that again."