The Dane has been linked to a move away, with former loan club Borussia Monchengladbach expressing tentative interest via football chief Max Eberl yesterday.
However, Lampard says: "I can rule it out.
"I like Andreas as a player and have always done so. Already when I was training with him I saw what a talent was about to emerge.
"I want Andreas to be as good as he can be. He is tall, athletic and capable with the ball. The reality is that we have competition in his position. I choose from what I see and two of the centre-halves will not be happy."