The England midfielder, Lampard, who turns 35 next month and was captain in Amsterdam, will be spending another year with the west London club.
"I think everybody knows how much I wanted to stay here. I'm just very pleased now to look to the future," Lampard said.
There had been doubts over whether Chelsea wanted to keep the player who on Saturday surpassed Bobby Tambling's 43-year-old club goalscoring record tally, netting twice at Aston Villa to take his total Chelsea tally to 203 goals.
"As you get older you start to think about the time to walk away or when you might be told to walk away actually.
