After enjoying an illustrious playing career spanning over 20 years, winning who won three Premier League titles, four FA Cups, two League cups and the UEFA Champions League, Lampard has ventured into his first management role.
Derby finished in sixth-place in the Championship last season but missed out on promotion through the playoffs, now the former England star will be tasked to help push the Rams in the top-flight after two decades in the second-tier.
"I'm excited to be making my first move into management with a club with such huge tradition and history," he told the club's website.
"We want to build on the club's top six finish in the Championship last season, while at the same time bringing through some of the excellent youth and Academy talent we have at Pride Park.
"This is my first job as a manager but I've been working towards this for a long time. I've worked closely with some of the best coaches in the game and I'm confident in my own abilities and those of the team around me.
"I know it won't be easy – managing a football team never is – but I'm here to work hard. I'm really looking forward to getting started and to the challenge ahead."