The 22-year-old has scored eight goals in nine league games in his breakout season for the Blues.
And despite Chelsea wanting two forwards in January, they are reportedly only set to be back-ups for the academy graduate.
The Sun reports that Lampard has made signing a back-up striker his priority for the January window, with the club confident their transfer ban will be lifted.
FIFA banned the blues from signing players for the next two windows earlier this year, meaning they will currently be unable to bring in any fresh faces until next summer.
Chelsea reportedly want Timo Werner (Image: GETTY)
Chelsea reportedly want Callum Wilson (Image: GETTY)
But the club has appealed the decision, and are reportedly confident their appeal will be successful.
If so, they are keen to bring in Werner, who was once a target for Liverpool.
The 23-year-old German scored 16 goals in 30 Bundesliga appearances last season, and has started this campaign with five in seven.
Earlier this season, it was reported that Werner’s contract had a release clause of just £25million.
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Timo Werner was once a target for Liverpool (Image: GETTY)
Timo Werner scores impressive series of goals in Bundesliga
Another target is Wilson, who had also been touted as a potential signing for Manchester United.
The Bournemouth striker has scored five in nine Premier League games this season, after his impressive form last season earned him a call-up to the England squad.
Wilson is unlikely to be sold on the cheap, however, with the Cherries reportedly slapping a £75m price tag on him earlier in the year when Chelsea were interested.