كتب : Hatem Maher
The first-leg ended in a goalless draw so both sides looked for the initiative.
Michael Ballack scored his first Champions League goal of the season after five minutes to put the hosts ahead.
He connected with Frank Lampard's in-swinging cross to head home at the near post.
Lampard turned from provider to scorer in the 25th minute when he notched home on the rebound after Ballack's initial shot was blocked by Olympiakos goalie Antonios Nikopolidis.
Ivorian forward Salomon Kalou completed the rout three minutes after re-start with a close-range finish at the far post.