The midfielder signed a new five-year deal last week.
Loftus-Cheek hopes to learn plenty from working with Lampard this term, while the promotion of Joe Edwards to the men's first team backroom staff brings a reunion with a coach he has played under since the age of nine.
"I'm really looking forward to the new season with Frank as manager," he told chelseafc.com. "I watched him a lot in my youth team days and now it's a great opportunity for me to learn and grow under him. He obviously played in midfield like me and scored a lot of goals from that position, which is something I want to do as well.
"It's exciting times for the club. I played with Jody a bit with the Under-21s [when Morris first returned to Chelsea at the end of his playing career] and they did so well last year at Derby. For them to combine their knowledge and experience with the youth coming through could be really interesting.
"I've been training with Joe since before I can remember really. He was my coach for a number of years in the Academy so it's exciting that he's moving up in the game and doing well. Everyone is progressing and if we keep that mentality to keep going forward then as a team we can achieve a lot."