Lampard has been linked with a move to the Chinese Super League since March but despite speculation intensifying recently, Chelsea boss Roberto Di Matteo has dismissed any truth in the reports.
A Renhe official, however, confirmed in a brief statement that talks had begun with the 34-year-old England international.
"Yes, we are in contact with Lampard but so far nothing has been settled," said deputy board chairman Yang Xiayou.
Chairman Dai Yongge was quoted in a Chinese newspaper as saying Lampard would join Renhe as captain in January, ahead of the season starting in March.
The club, which is based in the South Western province of Guizhou, qualified for their first AFC Champions League competition with a fourth-place finish in the league.
If the move is agreed, Lampard - who is currently out with a calf problem - would follow former team-mates Nicolas Anelka and Didier Drogba who both sealed lucrative moves to China.
The duo play for Shanghai Shenhua on contracts reportedly worth $300,000 a week.