Luck led the Colts to a comeback win over the Houston Texans last week, his 10th come-from-behind victory of his career.
"I guess when you see Andrew, that's 'it,'" Pagano told the club's official website. "I think everybody looking for one, just look for a guy that looks like number 12. He's definitely got the 'it' factor.
"Besides the measureables, height, weight, speed, [he has] athleticism, arm talent, intangibles, football IQ, leadership. You look for guys that are poised, in command."
The Colts are 6-2 in their season going into their week 10 clash with the St Louis Rams.