The Magpies roped in Isak from Real Sociedad last month for a club-record fee, finally giving boss Eddie Howe the young striker option he wanted going into this season.
Isak has already opened his account for Newcastle and played his first full 90 minutes for the club in their goalless draw against Crystal Palace at the weekend.
Lustig, who shared the dressing room with Isak for the Swedish national team, admitted that the striker will have to deal with a lot of pressure owing to his hefty price tag, but stressed he will be able to handle that very well.
“He [Isak] got exactly the start you want”, Lustig was quoted as saying by Swedish daily Sportbladet.
“It is clear that there will always be talk of the price tag and there will be pressure on his shoulders.
“It will be fun to follow.”
Lustig feels that the Newcastle move will turn out to be a big positive for Isak and stressed he has what it takes to make it in the Premier League.
“Yes absolutely, I am very proud [of him as a friend].
“Those of us who have seen him and trained with him know that he has it in him.
“He might have struggled a bit at Real Sociedad last year, I think this move will do him good.”
Newcastle will hope to get back to the winning ways come Sunday when they take on West Ham United at the London Stadium.