The former Norwich City boss has a big task on his hands keeping Ipswich up this season, with the club currently lying in last spot in the Championship, five points from safety after their 3-0 loss at Millwall.
But Lambert has an excellent record in the lower leagues, guiding rivals Norwich to back-to-back promotions while also doing well at Blackburn Rovers and Wolverhampton Wanderers in short spells.
With money to spend in January, Lambert could turn Ipswich around, and here we look at three of his former players he may bid for to give his new side a much-needed boost.
The Iceland international spent the 2016-17 season at Wolverhampton Wanderers while Lambert was in charge, and he was regularly tasked with leading the line as he made 42 Championship appearances.
Ipswich are desperately short on quality upfront having scored just 11 goals in 15 games, and the long-term injury to Jonathan Walters leaves them without a recognised focal point.
Bodvarsson is currently at fellow strugglers Reading where he has seven league goals this term, but interestingly he hasn’t been a regular at the Royals having made just seven starts.
Reading won’t want to sell him to a direct rival, but manager Paul Clement could see him as one of only a couple of sellable assets and may seek an opportunity to strengthen elsewhere with incoming funds.
Saiss, 28, was another who featured for Wolves under Paul Lambert and he also became a regular under his successor Nuno Espirito Santo as the west Midlands club won promotion to the top flight last season.
After heavy investment, the Moroccan has struggled for game time at Molineux and it could be an opportunity for Lambert to try and bring him to Portman Road in January – perhaps on an initial loan deal.
Capable of playing both in defence and midfield, he would offer Ipswich plenty of versatility and the necessary steel to put an end to the soft goals which Ipswich have conceded this season.
The 25-year-old defender was handed his first-team debut as an Aston Villa youngster by Lambert, and then he went on to join Blackburn Rovers months after the current Ipswich boss departed Ewood Park.
It’s likely Lambert sought out a move for Williams at Blackburn, and it’s a player he should look to again as Ipswich have a weakness on their left side with Jonas Knudsen really struggling.
Williams has made six starts for Blackburn this season therefore he hasn’t been a regular, though after signing a new deal last summer Rovers may not be keen to let him go on the cheap.