Liverpool signed the England international for £12million back in the summer of 2013 and the former Manchester City academy boy has flourished at Anfield since.
Lampard, who is set to join New York City after the World Cup, feels Sturridge should have been given more of a chance at Chelsea before he was sold to Liverpool.
“I’m really pleased for Sturridge because at Chelsea I think he was a bit frustrated,” said Lampard. “He felt he could have played more.
“He felt the position he was playing in was one he wasn’t quite happy with and it was good for him to move in the end.
“It was may not be good business for Chelsea. It looks bad, but you look back and you never know.
“Individually for him it was a good move. He has gone from strength to strength.
“I think he does get the credit he deserves now, but with what Luis Suarez does alongside him at Liverpool, maybe takes the edge of the praise.
“But for an English striker scoring as regularly as he has in the Premier League it has been amazing, and he is the sort of striker, the sort of attacking player, we have been crying out for with England.
“He is someone who can make something out of nothing as he did against Peru last week, so he has emerged and deserves to be on this stage.”