The former Blues midfielder is currently in charge of Derby County and has impressed in his debut season of management, leading the Rams to the Championship play-off final where they will face Aston Villa.
Lampard has never hidden his desire to return to Chelsea, where he played for 13 years, and SportPesa have installed him as odds-on favourite to move back to Stamford Bridge in a managerial role.
Juventus are believed to have made contact with Sarri about replacing Massimiliano Allegri and so regardless of whether Derby earn promotion to the Premier League on May 27, Lampard could return to west London.
Allegri will officially leave Juventus after their final league game of the season this weekend and SportPesa make it 7/2 (4.50) that Sarri replaces his countryman, who guided Juve to five Serie A titles and two Champions League finals.
The favourite in that market is another former Chelsea manager. Antonio Conte can be backed at 2/1 (3.0) to return the club he left in 2014, although Goal understands he is close to replacing Luciano Spalletti at Inter.