The former Rangers youngster nominated himself for a spot-kick after playing the full 90 minutes of the goalless draw against Ange Postecoglou's side in front of over 40,000 fans inside the Accor Stadium.
The 21-year-old Scotland international was keen to put one past his former Glasgow rivals and duly stepped up to fire past Joe Hart and help his side earn a 4-2 shoot-out victory.
Speaking after the match, Lampard said: "He was with his Rangers links. I was more than happy for him to take it. I like lads who stand up. Patts has got some character. He is a good lad and nicely competitive.
"Patts was really good for us at the start of the season. Then he got an injury while playing with Scotland and since he has come back in, he has still been finding his feet to get back to those levels but as a young player that is normal. He needs to push on now."
Patterson came up against Celtic winger Jota during the contest and Lampard was happy with how his right-back handled the test.
"I thought he did well with bits today but there were a couple of bits that he could be cleaner on, but he is a really good player for us. I was always confident about the attacking side of his game, but as a young player I wanted to see him defensively.
"At the start of the season it was spot-on and I think he really needs to continue focusing on that side of it.
"Today, the challenge that was put to him against a player who has got a lot of ability to go either way. I thought he defended pretty well."
Lampard also explained why Everton were happy to sit back and hit on the break against the Scottish champions.
"I think with the back five against possession teams like Celtic it means you are going to have to sit back. It wasn’t the worst thing to do because of the jet lag, the travel and all those things that can affect you if you try to play a high press."