The club legend is on the brink at Chelsea, given the team's recent results in the Premier League.
If they do sack Lampard, Chelsea will look to hire a top class manager who can help mold their next title winning team.
Burley believes Leicester City boss Rodgers should be top of that list.
"[Max] Allegri is known for pragmatism. There is nothing wrong with that, but Abramovich has always tried to get away from that. He had enough of it under [Jose] Mourinho," the former Blues star told ESPN.
"I look at Brendan Rodgers as, at least, the third best coach in the Premier League.