Sunday's come-from-behind 2-1 win at Everton moved them within four points of second-placed Manchester City and 11 behind leaders Manchester United, and they have a game in hand over both sides.
Four successive league wins have restored some much-needed momentum and confidence to the squad and Lampard, scorer of both goals at Goodison Park, believes a shot at the title is not beyond Rafael Benitez's side.
"Of course we can still win the league, it is possible," said the England midfielder, who will be on his way out of Stamford Bridge by the summer unless a new deal can be agreed to keep him.
"If we concentrate on ourselves, win our games, put a long run together and we can put pressure on Man United, who knows?"
If Chelsea are to sustain a title challenge they cannot afford to drop many points and Wednesday's visit of bottom side QPR is one game they have to win.
"It's the position we've put ourselves in because we had a funny run in November and December and we were top and now all of a sudden we are adrift - but we can't look back at that," said Lampard.
"We have to be positive and the big change going into games is attitude with a desire not only to pass and move the ball but to get close and work for your team-mates.
"When we have that we can do what we want we need to carry on that starting with QPR."
Lampard was restored to the starting line-up having been rested for the Boxing Day victory at Norwich and repaid Benitez with his double strike.
While speculation continues over the 34-year-old's future - his contract expires in the summer and there appears to be no imperative from the club to offer a new deal - he remains focused on the short term.
That means playing as many games as he can, although he accepts he will be subject to Benitez's rotation policy as much as anyone.
Lampard has one eye on Bobby Tambling's all-time Chelsea goalscoring record of 202. He is 10 adrift of it at present, but only one behind striker Kerry Dixon who is in second place.
"There is a squad and you must respect that, but I do feel when I get comfortable, fit and playing, and you are in the team consistently, you get confidence and when I'm confident I score goals," he told ChelseaTV.
"The manager, to be fair, has played me since I've been fit generally.
"I played the back end of last season as a holding midfielder but having David Luiz there gives me a bit more freedom to get in there and cause trouble where I can.
"And I do feel with the quality in front of me - Fernando (Torres), Eden (Hazard), Juan (Mata), Oscar, Victor (Moses), Ramires when he runs with it - if you get up there with them you will get chances.
"I'm one behind the legend (Dixon) now but I am just happy two goals brought us the win.
"It was a massive win. The first 20 minutes we weren't at the races but gradually we got into the game, got on the ball and knocked it about and were dangerous on the counter-attack."