Terry announced his retirement from professional football at the weekend, with the decision coming at a time when the Englishman has been heavily linked with becoming part of the new setup at Aston Villa.
Lampard has made a promising start to life in the dugout, and the Rams chief has backed Terry to have a similar impact should he be handed a role at the West Midlands outfit.
The 40-year-old is quoted by The Independent as saying: "He always seemed like he was going to be a coach or a manager, and he has all of the attributes. He's a leader, he studies the game, and I think and hope he'll do well. He has obvious attributes in leading people around him. That's what a manager needs to do - he did it in the dressing room.
"It changes slightly when you become a manager but you still have to have those attributes where you can push people on, drive, encourage, lay down the rules on how to perform to get the best out of yourself as a group. If he carries that on to management then I think he'll be a success."
Villa are looking to appoint their new manager before their next Championship fixture on October 20.