Chelsea officials have drawn up a list of three potential managerial candidates to replace Maurizio Sarri, who is reportedly close to being sacked at Stamford Bridge.
The Italian has faced criticism from fans and pundits for his perceived stubbornness and poor tactical decisions, with Chelsea falling to humiliating defeats at the hands of Bournemouth and Manchester City in recent weeks.
Zidane is currently unemployed after walking away from Real Madrid, and his impressive resume, which includes three consecutive Champions League triumphs, is thought to be incredibly enticing for the Blues.
However, they are also said to be impressed by legendary midfielder Lampard's start to life in management. His Derby County side are firmly in the race for the Championship play-offs this season, and his passion towards Chelsea is also thought to be a huge positive in the eyes of Stamford Bridge officials.
They are joined on Chelsea's shortlist by Frenchman Laurent Blanc who, according to the Evening Standard, has long been a favourite of the club's hierarchy. He was heavily linked with the position following Antonio Conte's dismissal last summer, but Chelsea ultimately opted to give the job to Sarri.
Blanc has reportedly visited Stamford Bridge on several occasions in recent years and met with director Marina Granovskaia to discuss the job at the end of last season, and remains high on the club's list of potential replacements.
He could find himself as the leading candidate if Sarri is dismissed in the next few weeks. It is thought that Chelsea have given Sarri three matches to fight for his place in the dugout, but another mid-season dismissal could leave Chelsea with few options to replace him.
Zidane is said to be holding off on making a decision about his future until he analyses all possible options, which will likely be at the end of the season. As for Lampard, he is in the midst of a crucial part of the Championship season with Derby, and is unlikely to jump ship so suddenly, even if the Chelsea job would prove tough to turn down.