A comprehensive study of the generalized Lambert series
\sum _{n=1}^{\infty }\frac{n^{N-2h}\text{exp}(-an^{N}x)}{1-\text{exp}(-n^{N}x)},0<a\leqslant 1,~x>0,
N\in \mathbb{N} and
h\in \mathbb{Z}, is undertaken. Several new transformations of this series are derived using a deep result on Raabe’s cosine transform that we obtain here. Three of these transformations lead to two-parameter generalizations of Ramanujan’s famous formula for
\unicode[STIX]{x1D701}(2m+1) for
m>0, the transformation formula for the logarithm of the Dedekind eta function and Wigert’s formula for
\unicode[STIX]{x1D701}(1/N),N even. Numerous important special cases of our transformations are derived, for example, a result generalizing the modular relation between the Eisenstein series
E_{2}(z) and
E_{2}(-1/z). An identity relating
\unicode[STIX]{x1D701}(2N+1),\unicode[STIX]{x1D701}(4N+1),\ldots ,\unicode[STIX]{x1D701}(2Nm+1) is obtained for
N odd and
m\in \mathbb{N}. In particular, this gives a beautiful relation between
\unicode[STIX]{x1D701}(3),\unicode[STIX]{x1D701}(5),\unicode[STIX]{x1D701}(7),\unicode[STIX]{x1D701}(9) and
\unicode[STIX]{x1D701}(11). New results involving infinite series of hyperbolic functions with
n^{2} in their arguments, which are analogous to those of Ramanujan and Klusch, are obtained.