The reigning English champions are losing their grip on their title defence after losing two back-to-back matches against Blackburn and Newcastle.
One of the major problem areas lie in midfield, where United have struggled for inspiration and creativity - not helped by the long list of injuries.
According to The Daily Mail and The Daily Mirror newspapers, United boss Sir Alex Ferguson is ready to shock the whole of English football with a shock move for Lampard.
The Scot is believed to be a long-time admirer of the England international and is ready to pounce on the chance to sign the 33-year-old this January.
Lampard, whose future with Chelsea remains a doubt after seemingly falling down the pecking order in Andre Villas-Boas side, could well be tempted by a move to Old Trafford as he looks to revive his career.
The former West Ham player could be the answer to United's midfield problems as the Red Devils have been lacking a midfield maestro since the retirement of Paul Scholes.
But there are obvious barriers to the move such as Lampard's age and Chelsea's willingness to sell to a major rival.