The England midfielder is leaving Chelsea at the end of the season as the club do not want to offer him a new deal.
But Pirlo, at 33 a year younger than Lampard, told US television: "I can only make comment on what I see.
"And from what I see, Lampard is still one of the best central midfield players in the world.
"If he wanted to try at playing in Italy, I would welcome him at Juventus for sure. In Italy, Frank would comfortably have another four years at the top level."