Conte could be hit with a lengthy touchline ban if he fails to prove his innocence in the betting scandal probe that has engulfed Italian football.
“Will it affect things? A little, but not much,” said Lippi, who coached Juve to the Champions League and five Serie A titles.
"Antonio is very involved with the games, to the point of losing his voice, but more important is the work done in the week.
“And he would still do that even if he is banned. I know Antonio as a person of true clarity and seriousness. I do not think he has done anything wrong.
“Are Juve favourites in the League? Yes, right now I do not see any team as strong as Juventus. Napoli are growing well, Inter have ended a cycle and are trying to start another.
“Milan have made some excellent sales but are without optimism and confidence. Roma is setting up a high level of training. But Juventus is still ahead.”