Chelsea legend Lampard made his debut as a manager last Friday and saw his Derby side come from behind at Reading to win 2-1 by virtue of a 94th-minute Tom Lawrence header.
But he will take charge of his first competitive home game this afternoon when Leeds come to Pride Park.
And former Championship manager Holloway reckons the battle with Bielsa, who has managed the likes of Argentina, Athletic Bilbao and Lazio, will be a tough one to win.
“[Bielsa] is like a chess player, a fantastic tactician, I think he gets it over brilliantly and has a variety of formations to use in each game,” said Holloway.
“It’s great for the Leeds players to have that in control of your club. I hope it goes well for him.
“The nucleus of last season’s team is still there, they faded last season but with his coaching it should be very very interesting.
“The Leeds fans are absolutely buzzing about this man and so they should be.
“I’m looking forward to the Derby game, the young pretender against the old experienced genius so let’s see how it goes.”
Bielsa’s first game in English football could hardly have gone better as United beat relegated Stoke 3-1 at Elland Road thanks to goals from Mateusz Klich, Pablo Hernandez and Liam Cooper.
And the Argentinian boss has promised to name an unchanged side with Stuart Dallas still out through injury.
But Derby will start as narrow favourites and Lampard could select any of Duane Holmes, Scott Malone, Martyn Waghorn and Fikayo Tomori, all of whom joined the club in the last week of the transfer window.
The 40-year-old will now have the challenge of turning his squad of players into a team but Holloway reckons he will not be short of advice.
“It was good to see his dad [Frank Lampard Sr] and Uncle Harry [Redknapp] there supporting him the other day, they’ve got more than enough experience to help him, and it was a fantastic goal to win them the game last week,” Holloway added.
“Big test this weekend, I thought Leeds were absolutely excellent and I believe that Bielsa is a genius so I can’t wait to see what happens.
“I’ll sit on the fence, I’m going for a draw.”
***Watch Holloway’s analysis on the EFL Highlights Show on Quest every Saturday at 9pm. Also available live and on demand at questod.co.uk and via the QuestOD app***