Walcott fell down the pecking order at Everton under Carlo Ancelotti and the Toffees allowed the forward to return to his former club Southampton on loan towards the end of the transfer window.
The Englishman started his career at Southampton and has returned to his former club after more than 14 years following spells at Arsenal and Everton.
Hasenhuttl is aware of the history Walcott has with Southampton and admits that following his first week in training it is clear that the forward is a quick learner.
The Southampton boss has held talks with the player over the last week and is confident that he is going to enjoy working with the 31-year-old at St. Mary’s.
Hasenhuttl said in a press conference: “We know about his history at the club.
“He is a quick learner from what I’ve seen.
“We had an intense first week together and a few individual meetings.
“I am sure we will have a lot of fun with him.”
Walcott will be out of contract at Everton next summer and will be hoping to convince Southampton to offer him a permanent deal through his performances this season.