It is understood that Chelsea have told Lampard he is free to find a new club in the January as he would not be offered a new contract at the end of the season.
And the news have generated several transfer speculations about the England international, with the likes of QPR, PSG and the Los Angeles Galaxy all being mentioned amongst the teams wanting his service.
However, Wilkins, who has worked with Lampard in the past during his coaching stint at Stamford Bridge, is advising Manchester United manager Sir Alex Ferguson to snap up the 34-year-old midfield scoring machine.
Ferguson has made it public that there will be no Man Utd transfer in January, but Wilkins has a message for the Scot.
“He’ll cost nothing, he’s about four years younger than Giggs and Scholes and he scores goals from midfield,” Wilkins said on the Daily Mail.
“He’s scored more goals this year than Carrick, Cleverley and Scholes combined.
“He’s comfortably got two or three more seasons in him. He won’t play 90 minutes every week but if he starts 20 games for United he’ll score them seven goals.
Lampard netted both goals for Chelsea in the 2-1 victory over Everton on Sunday, but the Blues, according to reports have no interest in signing him to a new contract.
“He was fantastic (against Everton), wasn’t he? In the 11 games he’s played, he’s got six goals already,” Wilkins said.
“This is the club’s decision to let him go – it’s nothing to do with Rafa Benitez – and in my opinion it’s the wrong decision.
“You need these older players to show the youngsters what it means to play for Chelsea.”
Manchester City are also said to be interested in signing the midfielder, but it is understood that of all the teams in the EPL, if he was to leave, Lampard would rather join Manchester United.
It seems highly unlikely at the moment, but if Lampard was to make the switch to Manchester United, it would certainly the English Premier League season a very interesting one.