The Chelsea legend announced his retirement this week, bringing an official end to his playing days.
Having seen out his contract at MLS outfit New York City at the end of last year, the 38-year-old has been weighing up his options.
Despite admitting he had received offers from Premier League sides, including Swansea, to continue on the pitch, Lampard opted to call it a day.
The West Ham academy product is now set to turn his attention to coaching, and a role with the FA has been suggested.
Slaven Bilic is under pressure at West Ham who are said to have Roberto Mancini waiting in the wings
Bilic though has controversially moved to hint a position could be available at the London Stadium for Lampard.
After leaving the Hammers for Chelsea in 2001, the ex-England international’s relationship with West Ham fans turned sour.
West Ham’s under pressure manager has already turned down an offer from former Rio Ferdinand to help shore up the team’s defence.
West Ham fans no longer have a positive relationship with Frank Lampard since he left for Chelsea
Eight things Frank Lampard could do after retiring from football
Thu, February 2, 2017
How could Frank Lampard spend his life after retiring from football?
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How could Frank Lampard spend his time after football?
Frank is always very welcome in our club
But the prospect of bringing in Premier League legend and former Hammer Lampard appears more appealing to Slaven Bilic.
“I know him well, of course, as he started his career here, him and Rio Ferdinand, when I was playing for West Ham in 1996/97, Bilic said.
“Frank is always very welcome in our club.
“I am sure he’s gonna be, like he was serious in his football career, very, very serious in his management career.
Frank Lampard's big success came during his illustrious career at West Ham's London rivals Chelsea
“He is the biggest and greatest example to young players to show what they have to do to be in position to achieve something in football.”
On his decision to retire, Lampard said: "Of course, the largest part of my heart belongs to Chelsea Football Club, a club which has given me so many great memories.
"Looking forward, I'm grateful to the FA for the opportunity to study for my coaching qualifications and I look forward to pursuing the off-field opportunities that this decision opens."