As it stands, those numbers would make him the third highest-earning teenager in the world (via the Sun), only beside Atletico's Joao Felix and Borussia Dortmund's Jadon Sancho.
The 18-year-old handed in a switch request in January and the Blues turned down three bids from Bayern Munich.
Hudson-Odoi made a decision to look elsewhere for opportunities and turned down a contract offered by Chelsea when Bayern Munich came for him.
Speaking to the club's official website, Hudson-Odoi paid tribute to Lampard and hinted that his relationship with the boss was key in his decision to sign.
"It's been a long wait but it's done now and I'm really happy about that", he said.
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One of Chelsea's talented teenagers recently committed his future to the club by signing a new contract, but where does the England global rank among the Blues' 10 highest earners?
"He has the mentality of winning, which we all want and we all need, so him coming in was just an extra boost for me".
"I'm delighted everything has been agreed and now I'm just looking forward to properly getting back". He is now in the latter stages of his rehabilitation from an Achilles injury suffered in April that brought a premature end to his breakthrough season for club and country, in which he made 24 Chelsea appearances as well as playing two games for England.
He made his debut in the first team last January and since has made 27 appearances, scored five goals and more impressively became Chelsea's youngest-ever England worldwide Gareth Southgate handed him his England debut against the Czech Republic during their European Championship qualifying fixture.
'He's going to be central for us on the pitch and that's the alternative in entrance of him now.
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"There are things as a young player that he will want to improve but he can be central to this team and for England". I want to take it on because, ultimately, I'm helping the players who are going to be the future of this club.
"A lot of the talk was before me, a lot of that talk was from last season, so I only saw that from the outside", added Lampard. A positive one as well.
And the new deal summarizes Hudson-Odoi's excitement at Chelsea this year.
He has become the fourth of Chelsea's most highly-rated Academy products, along with Ruben Loftus-Cheek, Mason Mount and Billy Gilmour, to sign a new deal with Tammy Abraham, Fikayo Tomori and Reece James to follow in time. He has played 28 times for Chelsea's senior side so far, scoring five goals and assisting a further five strikes. Well lucky you, Billy Gilmour.
Callum Hudson-Odoi of Chelsea signs a new 5 year contract at Stamford Bridge on September 19, 2019 in London, England.
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