The 44-year-old was appointed as Rangers boss in December after winning the 2014-15 League Two campaign with Burton Albion, leading them into League One in the process.
It was a mixed first six months in charge of the Loftus Road club, though, as Hasselbaink - whose side were two points off a playoff spot when he arrived - led QPR to a 12th-placed finish, 14 points adrift of the top six.
Nevertheless, Luongo feels that he has already proven his promotion-winning pedigree at Burton and, despite backing the Dutchman to lead them into the top flight, the 23-year-old is unsure as to when this will happen.
“If he can do it with Burton, I’m pretty sure he can do it with QPR,” the Aussie told Four Four Two.
“Obviously there’s a turnaround with what he’s trying to do at QPR. I think it’s possible, but I can’t tell you when it’ll happen.”
Hasselbaink does have something in his favour: a lack of pressure. Of course, he'll be expected to do as well as he possibly can, but a drastic shift in Rangers' transfer policy means that automatic promotion may not be realistic.
At best, he may be looking at a playoff spot, but stranger things have happened.