With the Blues having suffered five defeats from eight matches in the Premier League, Lampard has acknowledged that he is under pressure to keep his job at Stamford Bridge.
Chelsea's 3-1 victory over Luton Town in the FA Cup on Sunday afternoon had seemingly earned the club legend more time in the dugout ahead of home fixtures with Wolverhampton Wanderers and Burnley.
The report claims that the first-team squad will not train until Monday afternoon, potentially a sign that a formal announcement will be made in the coming hours.
Should the news be confirmed, the 43-year-old will depart Chelsea having recorded 44 wins and 23 defeats from his 84 matches in charge.
As well as earning Chelsea a return to the Champions League in his first season, Lampard guided the club to the FA Cup final, eventually losing 2-1 to Arsenal after initially taking an early lead against their London rivals.
However, Chelsea find themselves 11 points adrift of Premier League leaders Manchester United at the midway point of this campaign, a scenario which has seemingly resulted in Abramovich opting for yet another change in the dugout. body check tags ::