It is seven years since the south coast club slipped through the relegation trapdoor.
"Forget the last seven years, they are a Premier League club. Everything about them is Premier League," Neville told evertonfc.com.
"When I first broke into the first team at Manchester United, Southampton were a stable Premier League side and they always produced good players - good young players - and it was always a difficult place to go," he continued. "They've got a great tradition and history of producing young players, playing good football and I think they will probably see it that they're back where they belong."