The former Chelsea star and head coach has agreed a two-and-a-half-year deal to succeed Rafael Benitez, who was sacked this month following the 2-1 defeat to Norwich City, which capped a run of one win in 13 Premier League games.
Lampard was said to be one of three final candidates for the role, along with Vitor Pereira and caretaker boss Duncan Ferguson, with the last round of interviews having taken place on Saturday (AEDT).
🎥 | “Frank is an impressive young man on and off the pitch. You can quickly relate to him and there is a positivity and confidence that comes through."— Everton (@Everton) January 31, 2022
Our majority shareholder Farhad Moshiri on Frank Lampard, the recruitment process and the plan ahead. 🔵
"It is a huge honour for me to represent and manage a club the size and tradition of Everton Football Club. I'm very hungry to get started. After speaking to the owner, Chairman and the Board, I very much felt their passion and ambition. I hope they felt my ambition and how hard I want to work to bring it together.
"You can feel the passion Everton fans have for their club. That will be hugely important. As a team – the competitive level that the Premier League brings and the position we are in the table – we certainly need that. It's a two-way thing. I think Everton is a unique club in that you can really understand what the fans want to see. The first thing they want is fight and desire and that must always be our baseline.
"My first message to the players will be that we have to do this together. We'll try to do our job and I know the fans will be there backing us."
Lampard was sacked by Chelsea in January last year after failing to mount a realistic title challenge despite a pre-season investment of close to £250million in the playing squad.
The former England midfielder won 28 of his 57 league games in charge at Stamford Bridge. Among Chelsea bosses during the ownership of Roman Abramovich, only Andre Villas-Boas in 2011-12 (48.1 per cent) and Guus Hiddink, in his second spell, in 2015-16 (33.3 per cent) had lower win percentages than Lampard (49.1 per cent).
Thomas Tuchel took over at Chelsea and went on to secure a top-four finish, reach the FA Cup final and win the Champions League.
Lampard's old England team-mate Wayne Rooney was also linked with the role, though the ex-Everton player said on Friday he had declined the opportunity to interview for the job.
Everton are 16th in the table after 20 matches in 2021-22, just four points above the relegation zone.