Southampton forward Lambert has suffered a minor muscle injury and will be reassessed on Sunday ahead of Tuesday's friendly with Germany, while Sturridge, who is yet to play a full part in training this week, is likely to be spared for next week.
"I have to speak to the doctors tonight about Daniel," said manager Roy Hodgson on Thursday. "I will get an update on his condition, but the chances are he will be spared for the second game when he hopefully will be 100% fit."
Their absence means Lambert's club team-mates Adam Lallana and Jay Rodriguez will play a part against Chile, although Hodgson would not specify whether they would start the game.
However, Hodgson did confirm that goalkeeper Joe Hart will not play against Chile, adding: "I'll leave it to you to work out which of the other two it will be."
Asked if both Fraser Forster and John Ruddy could get a half each, he replied: "It's possible, but I don't want to get drawn.
"I haven't spoken to the players about the team. Frank (Lampard) knows and the Southampton boys know. I told them they will feature in the game."
Lampard will captain the side in the absence of Steven Gerrard, who will miss the Chile contest along with right-back Kyle Walker.
"Steven Gerrard and Kyle Walker won't be taking any part in this game either because it's always been on my agenda that they will recover from minor injury problems that have plagued them and they will concentrate on the second game," Hodgson added.
"We're going to be playing two friendlies in front of incredible crowds and against two very, very good teams.
"We have great respect for Chile - we think they're an excellent football team - and everybody knows how good Germany are.
"The players who are selected will have to work very hard if we're going to maintain our unbeaten record. It's going to be an exciting couple of games."
Chile are likely to be without two of their more influential players.
Juventus midfielder Arturo Vidal has a calf strain and is out, while Palmeiras' Jorge Valdivia faces a late fitness test.
The attacking threat is led by Alexis Sanchez of Barcelona, while Cardiff midfielder Gary Medel will also have a key role to play.