Lloris has been a standout for Spurs this season and Friedel believes the Frenchman's composure and mentality are a key component of Tottenham's success under Mauricio Pochettino.
"Hugo's a humble, hard-working guy who doesn't have too many emotional days," Friedel told The Sun.
"He has such a level head — even at the most nervous times he seems very calm.
"People can look to him and see how he's acting and, as long as he's calm, then everything's fine.
"Spurs haven't been in this situation in a long time. They have put themselves in a wonderful position where they do have an opportunity.
"I know Mauricio has the mentality for it and the dressing room has, too, but there's no need to start talking about title challenges.
"They know they have the quality, they just need to quietly go about doing it."