The Italy head coach has been heavily linked to the Premier League side – currently led by interim boss Guus Hiddink - having confirmed he will leave his post with the national team at the end of Euro 2016.
Lampard is now at New York City with former Juventus midfielder Andrea Pirlo – who played under Conte - and feels the 46-year-old can succeed at Chelsea if he does, as expected, land the job.
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"I don't know him too well but he's got a great pedigree, a great recent record with Juventus," Lampard told BT Sport.
"I spoke with Andrea Pirlo about him and he has nothing but good words to say about him. I think he's hard working, he'll have the players working hard. He has what fans and players like to see - that determination, that will to win.
"It's a difficult job at Chelsea now considering what's happened this year, so we'll see. If it is him, I think he has the pedigree to do it, but the decision has not been made."
Conte led Juve to three consecutive Serie A titles before taking the Italy job in 2014, but would join Chelsea on the back of a poor campaign for the club that saw Jose Mourinho sacked in December.
Last season's champions sit 10th in the league, 10 points behind fourth-placed Manchester City with eight games of their campaign left to play.