Lampard has been dating the Daybreak host since 2009 and now wants to pop the question while on board Roman Abramovich's yacht in Sardinia next week, the Sunday Mirror claims.
"Frank intends to propose in the most romantic way possible," a source said. "He's got it all planned out. He will spend most of June away with Christine, and by the time he and Christine are back in London, they will be engaged.
"Frank wants it to be the perfect marriage proposal and is actually a bit nervous in case he fluffs his lines.
"Roman treats Frank like family and is very likely to make one of his boats available to him and Christine. Roman is so close to Frank he really wouldn't think twice about it."
Bleakley recently insisted that she and the footballer are not a flashy couple.