Although it remains unclear whether the Germany international would have preferred to link up with Liverpool, the 24-year-old's arrival at Chelsea would throw up the mouth-watering prospect of a partnership with Tammy Abraham.
However, as well as Werner being more versatile than the club's academy graduate, they each offer qualities which should help Chelsea pose a stronger challenge for the Premier League title.
Here, Sports Mole takes an in-depth look at the two players who will compete with Olivier Giroud for a place in the starting lineup.
Like with many of Chelsea's younger players, Abraham has spent a considerable period away from West London, enjoying loan periods at Bristol City, Swansea City and Aston Villa between 2016 and 2019.
During that time, the 22-year-old made a total of 128 appearances, the majority of which came during free-scoring spells in the Championship.
Meanwhile, Werner has spent his career in the Bundesliga, first coming through the ranks at Stuttgart and spending three years in the senior side.
In all competitions, Werner only contributed 14 goals and 11 assists from 103 appearances, but regular game time set him up perfectly for his switch to Leipzig in 2016.
Staying on that point, it should be noted that Werner's strike-rate throughout his youth and professional career has only dipped while initially gaining experience in the Bundesliga.
Fifty-eight goals came in academy and second-string outings at his first club, and a further 92 have been netted during his four years at Leipzig.
However, 2019-20 has been his standout year, finding the back on the net on 31 occasions from 40 appearances, some of which have come from the flank.
Each of Abraham's 15 goals for the campaign has been from down the middle, but just two of those efforts have been recorded since the middle of December.
Although he has had to contend with an ankle issue, it is Abraham's first real blip since only netting five times from 31 Premier League outings for Swansea in 2017-18.
Nevertheless, still four months short of his 23rd birthday, the Blues frontman also has 66 goals to his name during his professional career, adding to the 35 efforts which he recorded during his time in the academy.
As well as having the edge when it comes to goals, Werner is significantly ahead on the assists count, partly due to his time spent out wide.
Werner has set up 50 goals from 257 professional appearances, and all but a couple of his assists have come while occupying a central-attacking role.
Abraham, by comparison, has only chipped in with 18 assists spread across his 165 outings since turning pro.
Although some of that can be put down to missed chances by teammates, it is an area of Abraham's game which will need to improve in the coming years.
Lampard and Chelsea owner Roman Abramovich are willing to meet Werner's £54m release clause without a second thought, partly due to his versatility in the final third.
In modern-day football, it is an invaluable asset, and it will allow Lampard to continue to tinker with the make-up of his attack.
The presence of Werner will also help Chelsea when they play on the counter-attack, mainly against their rivals away from home.
Lampard has frequently spoken about his team requiring more of a ruthless streak, and having Werner in attack will improve the team's chances of taking advantage of opportunities in and around the box.
While it should be highlighted that Abraham is two years behind Werner in terms of development and experience, there can be little doubt that his composure must improve in the final third to establish himself as the club's best finisher.
However, despite his hold-up play still requiring work, he does have size in his favour, and there will be times when he will get the nod over Werner if he can make progress with bringing teammates into the game.