Media playback is not supported on this device
Hogg was named man of the match after scoring one try and creating another in Scotland's 29-18 win over France.
"He was the youngest player on the Lions tour three years ago," Hastings said.
"There's no doubt he will be on the Lions tour assuming he plays as well as he's done in this Six Nations."
Hastings has been encouraged by the back-to-back victories over Italy and France, and although he believes it is too early to confidently predict who will earn selection for next year's Lions tour, he feels several Scots could play their way into contention.
"Let's wait another 12 months or so, let's hopefully get Scotland a few more victories under their belt and then we'll talk about not only Stuart but hopefully a whole lot of other Scottish players as well."
After going over for Scotland's opening try in the first-half, Hogg produced a moment of magic to flick a pass over his head to put Tim Visser over in the corner for the crucial third try with 14 minutes remaining.
Hastings believes the Glasgow Warriors full-back's display against the French typifies how far he has come as an international player.
"He's one of these players that gets the crowd on the edge of their seats because you always think he's capable of making something happen," said the former Scotland captain, who won the Five Nations title in 1986 and 1990.
"He's very comfortable in that position. He's got great pace, great acceleration and he's got great awareness as well. There are so many players I see, they don't seem to realise how much time they have but that certainly doesn't apply to Stuart. He's always got time on the ball and I think that's the hallmark of a great player.
"He's a very important part of the team. He's played his part and he's very much one of these key men. As long as he continues that performance the team have got a great chance of winning. He's a very exciting player to watch.
"You realised it was Scotland's day when Stuart jumped up and he flipped the ball back into the arms of Tim Visser. What was really nice was he put his hands up prior to Visser going over in the corner because he knew he had created that try. It was Scotland's day and it was great to see.
Media playback is not supported on this device
Scotland great Gavin Hastings believes there is "no doubt" Stuart Hogg will be selected for the British and Irish Lions tour of New Zealand next year.