Hudson-Odoi is again training after recovering from Achilles surgery.
"He is training, looking bright and sharp," Lampard said. "But we want to protect him as he has had a long time out."
Meanwhile, Lampard says he is "always" worried about Chelsea's inability to pick up a victory from their opening two league fixtures but is encouraged by how his side have performed.
"We have shown some really good bits," he said.
"We are not where we want to be yet, it is not easy to change everything in one go. You have to keep working hard. We will continue to get better."