Hazard, 21, announced on Monday that he would be joining the Blues from Lille this summer, ending months of transfer speculation regarding his future.
After winning the Champions League, the Blues are looking to bolster their squad in a bid to enhance their Premier League title hopes next season and Lampard certainly feels the arrival of Hazard would be a step in the right direction for the club.
"Chelsea has always been a forward thinking club and, when you have success as a club, you want more," Lampard said. "If this is a signal of intent that we want to carry on doing that, then that's great."
"I've only seen clips of Hazard. But good people I know say he's a fantastic player. Didier Drogba, Joe Cole and the French contingent at Chelsea have been speaking about him highly for the past year.
"Everyone I speak to says he is a top player. He can bring youth, hunger and ability into our team, he'll be very welcome."
Neither Chelsea nor Lille have yet officially confirmed that the transfer of Hazard has been completed.