The Belgium international striker joined Everton on a permanent contract from Chelsea last summer, after spending the 2013-14 season on loan from the Blues.
The 22-year-old scored 15 goals and created 32 chances for the Toffees during the 2013-14 campaign.
Lukaku had a pass accuracy of 66% and a shot accuracy of 63%, and won 90 headers, 41 dribbles and six tackles.
Last season, the former Anderlecht youngster scored 10 goals and 37 chances in 36 league matches.
The Belgian had a pass accuracy of 74% and a shot accuracy of 55%, and won 62 headers, 45 dribbles and eight tackles.
Former Everton forward Latchford believes that for Lukaku should remain at the Merseyside club for the foreseeable future.
“He's a goalscorer, he's younger than people think and he's got potential to be a very, very good centre-forward," the 64-year-old told Everton’s official website.
"He's not the finished article and will need three to five years before you can evaluate whether he has reached that potential.
"But he's in the right environment to reach that level. With the manager and players around him, he'll be able to learn his trade and become a better player here.”
Lukaku has been linked with a move away from Everton this summer, with Premier League giants Manchester United and Serie A outfit AS Roma reportedly interested in him.
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