Terry is expecting to leave the club at the end of the season, with the Blues yet to offer him a renewal of his current deal.
Lampard, who is currently playing for New York City FC, has called for his former club to keep the centre-back but will try to convince his old team-mate to join him in the United States if he does exit Stamford Bridge.
"He’s the best defender I ever played with, quite comfortably," Lampard told ShortList Magazine. "So if Chelsea let him go and John’s sitting there, I’ll get his plane ticket and get him over here."
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He added: "I would like to see them offer it [a new contract]. I think it’s obvious John wants it and I think he can still stay at Chelsea."
Lampard does not think Terry's advancing years have effected his performances this season or made him any less of an asset to
He said: "Of course I’m friends with John, but purely from a football perspective and from what he’s done on the pitch, and as a starting player in all their big and important games when he’s started them this season, I think he’s been their best defender this year."