The North-East outfit have set up a clash against Anzhi Makhachkala in the next round with a 1-0 victory over Metalist Kharkiv in Ukraine, courtesy of a penalty by Shola Ameobi.
"It's massive for the club to be in the last 16 of the Europa League," Krul told the club's official website. "I think that's where we belong.
"It's great for the club like Newcastle to be in the draw for the last 16. We're going to Anzhi now and that's a great prospect which I'm really looking forward to."
In contrast, the Magpies are just four points away from the relegation zone in the Premier League table.