The released Blues veteran is expected to call time on his international career soon at the age of 36 after the Three Lions were eliminated from the World Cup at the group stage.
Lampard travelled with the squad and captained the team during the dead-rubber against Costa Rica, turning in a composed performance for Roy Hodgson in the 0-0.
After displaying his array of passing and impressive fitness for his age, Cole – who recently signed for Aston Villa – believes that his once team-mate still has much to offer as England’s attention turns towards EURO 2016:
“I thought Frank Lampard was England’s best player [against Costa Rica],” he told talkSPORT.
“You have a lot of players in the England team now who play short passes and move the ball quickly and Frank was so clever with his passing. We played the ball into him a few times and he immediately looked to get Daniel Sturridge in behind the Costa Rica defence.
“He looked a class player, which he is and, at 36, he has probably still got something left to offer England.”
Lampard’s club future is also the subject of much doubt with his Chelsea contract having expired.
The ageing playmaker has been linked with a switch to newly formed American side New York City FC – whom David Villa has joined – while QPR are said to be pondering a move to draft him in for next season.