The appointment was confirmed by the club following the dismissal of former manager Mark Robins on November 7.
Coventry City via X said, Lampard steps into a challenging role, with Coventry currently sitting 17th in the league table, 10 points adrift of the playoff positions.
The former Chelsea legend brings a wealth of coaching experience, having previously managed Chelsea, Derby County, and Everton.
His most recent stint was as interim boss at Chelsea in 2023, following his earlier full-time tenure from 2019 to 2021.
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Mark Robins, who was sacked after Coventry’s seventh loss in 14 league games, leaves behind a legacy of transformative work.
Robins first managed Coventry from 2012 to 2013, returning in 2017 to guide the team from League Two to the Championship.
He also led the Sky Blues to the brink of Premier League promotion in the 2023 playoff final, narrowly losing to Luton Town on penalties.