Preston made the comments following Celtic’s 3-0 victory over St. Johnstone away from home at McDiarmid Park in Perth in the Scottish Premiership on Sunday afternoon.
Lustig, a Sweden international right-back who has been on the books of the Bhoys since 2012, started the game and played for the entire 90 minutes.
The 28-year-old former Rosenborg star gave a good account of himself in the match, and ex-St. Johnstone defender Preston was impressed.
“He's a seven out of 10 every week,” the 46-year-old told BBC Sport. "His levels of consistency are fantastic.”
Celtic are at the top of the Scottish Premiership table at the moment with 42 points from 17 matches. Ronny Deila’s side are four points clear of second-place Aberdeen, who have played a game more.
The Bhoys will return to action next weekend when they take on Motherwell at Celtic Park in Glasgow.