Andre Villas-Boas's men sit fourth in the table after a 1-0 win over Sunderland saw them move four points above Arsenal.
League leaders Manchester City could open up an 11-point gap if they beat Wigan Athletic at home on Monday night. However, Chelsea's veteran midfielder believes the title race is not dead for his side.
"I don't like us ever taking our sights off the idea of being champions," the 33-year-old told talkSPORT.
"It's a long way to go and there's a gap there now, we know that.
"Top four has to be a minimum for us but we want to look higher than that."
Lampard struck his 11th goal of the season in Saturday's home win against Sunderland.