The highly-rated young duo will both spend the season at Pride Park under the guidance of the former Blues favourite.
Midfielder Mount, 19, scored an impressive 14 goals on loan at Eredivisie side Vitesse Arnhem last term, while 21-year-old Wales international Wilson netted seven times in a short stint with Hull City.
“I’m delighted to get both of these deals done and add players of their quality and calibre to the squad," Lampard explained to the official Derby website.
“I know Mason really well from my Chelsea links and I have also watched him play in their very successful youth teams.
“I knew him from those days and I watched him closely at Vitesse, where he took it by storm.
“His numbers are incredible for an attacking midfield player of his age and it’s a massive coup for me to get him here.
“He can bring us creativity in the attacking midfield area, goals, assists as well as energy. He was wanted across Europe by top, top, clubs and we should be very happy that we have got him.”
On Wilson, Lampard added: “Harry brings incredible quality and hunger to the table here and he showed that last year while he was on loan at Hull. He’s a full international too and he has a real desire to come here and improve.
“I know the qualities that they have.” #FrankLampard spoke to RamsTV after securing the loan signings of @MasonMount_10 and @HarryWilson_... https://t.co/v5HxXGkIOr#DoubleSwoop | #DCFCfans pic.twitter.com/m2V4aZyQwb— Derby County (@dcfcofficial) July 17, 2018
“He’s going to be a crucial player for us. I keep talking about creativity and the importance of trying to excite the fans and he’s the sort of player that can do that with the quality that he has.
“For himself too, to have a year at this level and feel an important player at an important club, that will be important.
“Hopefully it’s a great platform for him, but on a selfish note, we have got ourselves a real quality player.”
Lampard's first Championship fixture as Rams boss is away to Reading on August 3 ahead of a home outing against Leeds United eight days later.