The Blues legend will be in the away dugout as Derby look to pull off another shock result in the Carabao Cup.
Lampard's side will be confident of causing another upset after knocking Manchester United out in the last round at Old Trafford.
There is no suggestion Chelsea are looking to replace Maurizio Sarri in the near future.
But it is expected Lampard will be among the front runners to be the next Blues boss when the job becomes available again.
Betfair Spokesperson Katie Baylis said: “As Lampard returns to his old stomping ground with Derby, there is plenty of talk about him one day taking over at Stamford Bridge.
"Depending on if he can keep his impressive managerial start going strong, the Chelsea job would surely be at the top of his coaching bucket list.
"However, it might take a few more years yet before he is ready for the Premier League and we make it a 10/1 chance that he will be the next Chelsea manager after Sarri.”
Sarri has had a terrific start to life as Chelsea manager after joining from Napoli in the summer.
The Blues have not lost a game all season and are just two points off league leaders Liverpool and Manchester City.
While the Rams are fighting for promotion and are sixth in the Championship, just four points off top.
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