Lampard’s men are also safely through to the Champions League knockout stages, but will look to secure top spot in Group E when they take in a trip to Sevilla on Wednesday night.
Ahead of that encounter, Cole has expressed his belief that the west London outfit are capable of winning a domestic and European double, albeit while admitting that they still have plenty of room to develop as a team.
“I think Chelsea are genuine contenders,” The former Blues winger, who won three league titles and two FA Cups at Stamford Bridge between 2003 and 2010, told BT Sport.
“I think all the English sides, you can’t discount any of them from going all the way in the Champions League because of the quality and the strength of our league.
“I don’t feel there are any weaknesses in the Chelsea side at the moment. I feel there aren’t any glaring weaknesses, there are areas to improve on.
“But if you look at the last two months, certainly since Chilwell, Mendy, and Silva have got into the back four, the clean sheets have started to happen.
“We look safe and secure from set-pieces. So those things have improved dramatically from last season. I think there’s still areas where Chelsea can improve and they will improve.
“But certainly, I put them down as contenders to win the Champions League and the Premier League this year.”