The 41-year-old was officially confirmed as the Blues’ new manager last week after he signed a three-year deal with the west London club.
Lampard comes in to take over from Maurizio Sarri after the Italian opted to leave Stamford Bridge and move to Juventus earlier this summer after just a year in charge.
The former England international takes over at Stamford Bridge despite only having one year’s worth of managerial experience under his belt with Derby County.
And although former Arsenal man Petit feels that Lampard is a talented manager, he fears that the job may have come too soon in his young managerial career.
Speaking in an interview with Paddy Power, as quoted by Metro, Petit said: “Frank Lampard has many qualities.
“He’s a very dedicated person, who loves football and has total respect for his team-mates and managers. He is always ambitious.
“But somewhere in my mind I have a feeling the Chelsea job could have come too soon for him.
“We saw what he brought to Derby County, leading them to the playoffs, but that wasn’t the end of the story for them and they ended up failing to earn promotion.
“He’ll face increased expectation at Chelsea, and he knows this, having played for the club for so long.”
Lampard will be aiming to steer Chelsea FC to another top-four finish next season after the Blues finished in third place under Sarri last term.
The west London side also won a trophy last term after Sarri led them to a 4-1 win over Arsenal in the Europa League final at the end of May.
Chelsea FC are currently banned from signing new players after being handed a two-window transfer suspension by Fifa.
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