Lampard recently had a spell at MLS club New York City, and while it has been announced he will leave the club at the conclusion of his contract, he is yet to announce his retirement as a player.
Speaking to Metro, Conte revealed he could not offer the 38-year-old a coaching position as he did not know his plans for the immediate future.
"Frank Lampard has been a great player. [He was] a fantastic player for Chelsea. He won a lot with this team. But now, for me, he’s still playing and for this reason I don’t know his future," Conte explained.
"I repeat: he has been a fantastic player, a legend for this club. I have great respect for him. For me it’s very difficult to reply to the question when the question starts ‘if’. It’s important to know that."
Lampard is regarded as one of Chelsea's all-time greats, having won numerous domestic and European honours with the club, also becoming the club's record goalscorer, scoring a total of 211 goals in 648 appearances.
Lampard soured his relationship somewhat with the Chelsea faithful after joining Manchester City following the expiry of his contract at the Stamford Bridge club in 2014, but given his monumental contribution to the club over his career it is unlikely an appointment would be greeted with anything other than excitement and joy.
Conte's Chelsea are currently third in the Premier League, and can go top should they beat Middlesbrough on Sunday.