The two England internationals have both been linked with moves away from Stamford Bridge and with their contracts up in the summer they will be officially permitted to speak to other clubs in January.
According to reports, the left-back is a target of Paris Saint-Germain, as well as a number of other European clubs, while the midfielder's likely destination is supposedly LA Galaxy, where David Beckham recently ended a five-year spell.
However, the 52-year-old insisted that both players remain valuable squad members and under contract, but did not reveal whether the pair will be leaving at the end of the season.
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"He is a player who is under contract, he is a good player and I will try to bring the best from him. That is my position.
"Each player is obviously an individual situation, so I don’t know if Ashley has had a conversation with the club.
"For me they are players under contract, they are good players and I will use them if necessary."
Cole, 32, has been at the west London club for six years since joining from Arsenal, and Lampard, 34, has worn the Chelsea blue since 2001 and has since made over 500 appearances for the club.
The duo were both part of the Champions League winning side that lifted the trophy last season, defeating Barcelona and then Bayern Munich in the final on penalties.