Lloyd, captain of World Cup-winning teams in 1975 and 1979, has been appointed a consultant to coach Bennett King and Lara during the 10-nation event, the West Indies Cricket Board (WICB) said in a statement on Tuesday.
"He has agreed to make himself accessible to captain, coach and manager to assist in any way which will build morale, strengthen performance and encourage a stronger culture of professionalism and discipline," the statement said.
Lloyd, 62, quit the game in 1985 after scoring 7,515 runs in 110 Tests and 1,977 runs in 87 one-day internationals. He led the West Indies to a record 36 wins in 74 Tests between 1974 and 1985.
"Lloyd will serve the dual purpose of WICB representative, to explore opportunities for additional games next year as well as to make his vast experience available to the team," the statement added.
"It is something we've done before and we know that Clive's vast experience in leading victorious West Indian teams in the past would be an additional asset to the touring team."
The West Indies, who slipped in rankings after winning the 2004 Champions Trophy in England, play Sri Lanka, Bangladesh and Zimbabwe in the qualifying rounds this time.
They meet Zimbabwe in their first match on October 8 in Ahmedabad.
The top two sides will advance to the main draw that features world champions Australia, India, England, South Africa, New Zealand and Pakistan.
The tournament opens on October 7 at Mohali with a match between Sri Lanka and Bangladesh.