Lampard looks set for the exit at Stamford Bridge, with his current contract with the Blues due to expire in the summer and his agent claiming he will not be offered a new deal by the club.
The 34-year-old midfielder has enjoyed a trophy-laden career with the west London outfit since joining them in 2001, netting 193 times for them in the process to make him the joint-second highest goalscorer in their history.
Pulis has no doubt Lampard and Chelsea have proved a superb match for each other and feels it would be a huge shame for any separation to be acrimonious.
"I think Frank has been a fantastic player for Chelsea," Pulis said. "He has been unbelievable, and he is a great lad - they tell me he is a real top professional.
"But I think when you step aside, away from being a player, you sometimes look at it a little bit differently, and Chelsea have been absolutely fantastic for Frank as well.
"The medals and the trophies that Frank has won at that football club...as a young kid starting football, he needed a vehicle to be able to achieve what he has achieved.
"Whether the argument is that Chelsea should offer him a new contract or not, it is not my decision.
"But I think it has been a great marriage and you just hope it doesn't end in tears - that they part amicably, and that a true star of a football club walks away with everyone applauding what he has done and achieved."
With speculation over his future growing, Lampard has been linked with several clubs, including Manchester United.
Pulis - whose side host Chelsea in the Premier League on Saturday - has been quick to dispel any suggestion that Stoke could be a realistic destination for the former West Ham man, and believes Lampard is most likely to remain in the south.
Asked about the possibility of the England international becoming a Potters player, Pulis said: "I think if he doesn't sign for Chelsea, Frank will have other options and ideas in his mind.
"He has played down south all his life and I can't see him wanting to move up north.
"I think if Frank was going to go anywhere, I'm sure it would be down south."