Pickford sustained the injury during the goalless Merseyside derby against Liverpool earlier this month and missed their league game against West Ham United as well as England's Nations League fixtures against Italy and Germany.
"Yes, good news," Lampard told reporters on Thursday when asked if Pickford would be available.
Lampard added Dominic Calvert-Lewin's (25) involvement at St Mary's is under consideration as the striker looks to make his first appearance this season, having sustained a knee injury before Everton's league opener against Chelsea in August.
Calvert-Lewin, who was initially ruled out for six weeks, scored five league goals in 17 appearances during an injury-hit 2021/22 season.
"With Dominic, we're working to make sure he comes back in the best fitness and strength for us, so we'll see on that one," Lampard said.
"We're always searching for the best way to get Dominic fit and keep him fit because we know the level of player he is, as he's shown here previously."
Everton are 13th in the league standings with seven points from as many games.
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