The Brazil defender admitted he would be happy if his team-mate were to sign a new deal at Stamford Bridge after breaking the club's scoring record against Aston Villa on Saturday
Lampard struck twice to seal Champions League football for the Blues and take his tally to 203 goals for the club, equalling and surpassing Tambling's mark in the process.
And Luiz, who was brought on at the base of the midfield following Ramires' red card, which allowed Lampard to move further forward and get his goals, admitted he is delighted for the England midfieder.
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"I have played with many many fantastic players in my life but here at Chelsea he is the hero and he has a fantastic story, and he is a fantastic player and a fantastic man."
Lampard's Chelsea future has been up in the air all season, and with club hierarchy reluctant to offer him an extension to his current deal he looks set to leave Stamford Bridge this summer.
But Luiz admits he would be happy for the 34-year-old to stay for at least another year.
"Frank needs to decide the best thing for his heart, and the club needs to decide the best thing for both [parties]," he added. "I am happy when I have the opportunity to play together with players like Frank Lampard. If he is at Chelsea next year I'll be happy."
Looking ahead to the Europa League final against Benfica on Wednesday, Luiz believes having sewn up a top-four Premier League finish means they can focus all their energy on beating his former club.
"Now we have the opportunity to play Champions League next year," he continued. "We are in the top four now, if we win one more game it will be the top three.
"If we had lost this game [against Aston Villa] it would mean there would be more pressure, but now we can think about the final and think about the plans and what we need to do because it will be a great game.
"Whenever you are in the final you need to be confident, because you have done a great job in the past [to get there].
"I have a big opportunity to win a European title, I want that and my team-mates want that, so let's do it."