Begovic, who arrived at Goodison Park on a free transfer last summer, deputises for Toffees number 1 Jordan Pickford between the sticks.
The 34-year-old started for Everton on Thursday in their 1-0 win against Newcastle United in the Premier League while the England international was unavailable for selection.
Lampard is impressed with way Begovic guarded the net against the Magpies and hailed him for always being ready to step on to the pitch.
The Everton boss added that with the quality he has and the way he works hard on the training pitch, Begovic is a number 1 in his eyes and not just a deputy shot-stopper.
“It is one of the most difficult positions in the squad, [being] a number 2 goalkeeper”, Lampard told a press conference.
“And particularly when you are Asmir and when you have the qualities he has – he’s a No.1 in my opinion.
“The way he prepares and the way he trains and the way he carries himself, he is an experienced member of the squad means he is always ready.
“[He is] absolutely always ready, there’s no doubt about that from how he is every day.
“And yes, he exuded calm, collected balls and came on and made catches and was really good for us.
“And I am very fortunate to have the group of goalkeepers we have at this club.”
Begovic is in line to start again for Everton on Sunday when they take on Crystal Palace in the FA Cup quarter-finals with Pickford still sweating over his fitness.
