The 35-year-old ex-Southampton, Liverpool and West Brom forward has been without a club since leaving Cardiff City by mutual consent in July.
He scored 218 goals in 607 league games in a career that spanned 19 years and took in nine clubs..
"I feel lucky to have been involved in this sport for as long as I have," said the Liverpool-born forward.
Lambert scored three goals in 11 appearances for England and came on as a substitute at the 2014 World Cup.
"I have had some ups and downs in my career, but to have represented clubs like Southampton and Liverpool and playing for my country in a World Cup were beyond my wildest dreams," he said.
"Playing and scoring for England is probably my proudest professional moment and I will look back at every aspect of how I got there with fond memories."
His club career started at Blackpool and included spells at Macclesfield Town, Stockport County, Rochdale and Bristol Rovers.
Having spent his early career in in the lower leagues, Lambert realised his ambition of playing in the Premier League, at the age of 30 for Southampton.
Lambert's form for the Saints earned a call-up to the England squad and he scored the winner on his international debut in a 3-2 win over Scotland in 2013.
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