Benzema has found the back of the net on 192 occasions since arriving at Madrid, but the centre-forward only managed five La Liga goals during the 2017-18 campaign.
The 30-year-old was strongly linked with a move to Italy earlier this summer, but Lopetegui has tipped the Frenchman to enjoy a strong season at the Bernabeu.
"With Benzema we are happy. He trained very well, he is in great form, excited and enthusiastic. Surely he will help us in all facets, not only with his goals," Lopetegui told reporters. "He contributes a lot to the team and we are happy for what he does."
The European champions will officially begin their 2018-19 campaign on Wednesday night, with capital rivals Atletico Madrid their opponents in the UEFA Super Cup.