Everton's manager wants four more new players for the side in the summer window as he looks to change the fortunes of the club.
Lampard will be getting defender James Tarkowski on a free transfer from Burnely and The Telegraph reports that the Toffees are waiting for the month of June to elapse so as to start unveiling their new faces.
The deal for the 29-year-old is expected to be confirmed in the coming days before Everton look to strengthen their midfield options with the reports indicating that the Englishman wants to raid former side Chelsea for the services of Billy Gilmour and Conor Gallagher.
Gilmour featured for Norwich last season but they were relegated with the Scottish keen on staying in the Premier League while Gallagher had a fantastic outing with Crystal Palace in the previous campaign where his efforts handed him a call up to the England national team.
Apart from the duo and Tarkowski, Lampard wants to sign Harry Winks from Tottenham Hotspur to boost his midfield options.