The North London outfit have a difficult run in the group stage as they will face Borussia Dortmund, APOEL and reigning champions Real Madrid.
To make matters tougher for Mauricio Pochettino and his men, they will be without Alli for their first three matches due to a UEFA ban that the midfielder was dealt after getting sent off against Gent last season.
Even though the England international is an influential member of the team, Lampard believes that Eriksen has enough quality to fill the void.
In his column for the London Evening Standard, the three-time Premier League winner wrote: "Christian Eriksen has become such a good player for Tottenham he can ensure Dele Alli won't be missed too much against Borussia Dortmund on Wednesday.
"Being without a player of Alli's quality through suspension is never ideal, yet Eriksen is the one I expect to step up. I saw Spurs' win over Everton at the weekend and he was fantastic in midfield, creating chances and dictating play."
Tottenham, who are currently fifth in the league table, will be searching for their first Wembley win this season when they host Bundesliga giants Dortmund in midweek.
Spurs are playing all of their home matches at the national stadium in the 2017-18 campaign while their new ground is being built.