Lampard is set to leave Stamford Bridge at the end of the season unless he can agree a new deal with the club he joined in 2001.
The England midfielder is said to want to stay put but wants at least a two year deal, while Chelsea are only willing to offer a one-year contract extension.
According to Chinese state media, the owner of Guizhou Renhe has told reporters that the 34-year-old has agreed to leave Chelsea in January, and will follow former team-mate Didier Drogba to the Chinese Super League.
Lampard has established himself as one of the most prolific players in Chelsea’s history, scoring 153 goals for the west London club in 571 appearances.
News of his potential departure comes as rumours link fellow Chelsea veteran Ashley Cole with a move away from Stamford Bridge, with Paris Saint-Germain said to be interested. The England full-back’s contract is also up in the summer.
Roberto di Matteo admitted yesterday that club captain John Terry is no longer guaranteed a starting spot as the club continue with the overhaul of ther ageing squad.
Terry could return from his four match suspension for abusing Anton Ferdinand when Chelsea take on Liverpool at Stamford Bridge tomorrow.