The former England international, is among a number of candidates the club have spoken to about the post.
However, no announcement on who will take over is expected until late in the weekend or early next week.
Lampard has been out of management since his 18-month spell in charge of Chelsea ended with the sack last January.
Norwich are bottom of the Premier League with five points from 11 games and their next game is against Southampton on 20 November.
Farke was dismissed after a victory over Brentford last Saturday, which was the club’s first league win of the campaign.
The club’s players will return to training on Friday, with head of football development Steve Weaver taking the session.
Lampard guided Chelsea to fourth place and the FA Cup final in his one full season in charge, and a 3-1 win against Leeds in early December 2020 put the club top of the Premier League, but he was dismissed the following month as they dropped to ninth place.
He did not sign a single player during his first season as the club were operating under a transfer embargo, but spent more than £200m on seven major arrivals in the summer of 2020, including £45m on Leicester’s Ben Chilwell and £71m on midfielder Kai Havertz from Bayer Leverkusen.
Before taking charge at Chelsea, Lampard spent one season in charge at Derby, guiding them to the Championship play-off final, where they lost to Aston Villa.