The 21-year-old, who graduated into Gloucester's senior ranks from St Peter's School in the city, has pledged his future to Gloucester until 2010, joining team-mates Peter Buxton, Alex Brown, Marco Bortolami, Andy Hazell and James Simpson-Daniel in agreeing new terms.
"There has been a lot said and a lot written about me but I have just concentrated on my rugby," Lamb told www.gloucesterrugby.co.uk "It was up to me to go out and earn a contract, to show the coaches I had the ability to mature, learn and make myself a better player.
"These things are not just handed out and in that respect I am really pleased to have made the progress I have this season. There were aspects of my game that I needed to improve and I think I have started to do that and repay the faith of the coaches.
"Being a local kid, nothing gives me greater satisfaction than pulling on a Gloucester shirt and running out at Kingsholm. It is a fantastic experience and I hope I can continue doing it for many years to come.
"There is so much I want to achieve at Gloucester and we have a great spirit and determination to achieve something very special with this group of players.
"I never wanted to go anywhere else and my job now is to continue my development and show the coaches I am capable of driving this team forward and becoming an even better player."
At the age of 14, Lamb spent two years involved with the England Under-16 set-up before progressing to the Under-18s and Under-19s. He signed his first professional contract with Gloucester in 2004 and in the 2005-6 season burst onto the scene with a series of precocious and remarkably gifted performances alongside the likes of Anthony Allen and Olly Morgan. He has since made 45 appearances in all competitions with 353 points, including nine tries.
Gloucester's head coach Dean Ryan added: "When you talk about the young players who have the potential to go a long way in this game, Ryan's name is in that list.
"For a club like Gloucester, it is very important it maintains that historical link to the community by developing home-grown players and Ryan has been central to our progress this season. We asked him to go away and develop a more all-round game to match his running and distributional qualities and he is doing that now much more consistently.
"His performance against Bourgoin in the Heineken Cup a couple of weeks ago was at a level we are looking for. It was mature, precise and composed and that is a great testament to Ryan.
"These things take time but everyone can be rightly thrilled that a Gloucester boy is doing so well. We want to give him the platform to go on and make the most of his ability. I think it sends out a really positive message about Gloucester and where we want to be."