A closed subspace X of \(L^p[0,1]\) \((1\le p <\infty )\) is called a \(\Lambda (p)\) -space if there exists a number \(1<q<p\) such that \(\left\| f \right\| _p \lesssim \left\| f \right\| _q\) for all \(f \in X.\) By introducing subspaces \(\Lambda _{T,b}\) defined via bounded linear operators T and parameters \(b>0\) , we establish a representation of \(\Lambda (p)\) -spaces in terms of such operators. We prove that if for \(1\le \widetilde{p}<p\) a bounded operator T on \(L^p\) and \(L^{\widetilde{p}}\) satisfies \(\log |Tf| \in \textrm{BMO}\) , then the subspace \(\Lambda _{T,b}\) is a \(\Lambda (p)\) -space. As an application, we show that a class of convolution operators satisfy this condition, thereby generating concrete examples of \(\Lambda (p)\) -spaces and connecting classical results with our operator framework.