O'Neil says the key will be keeping quiet Newcastle's attacking players.
He said, “They have an abundance of quality attacking players, midfielders, even defenders. I know they’ve had a couple of injury issues, but obviously signing Lloyd Kelly on a free transfer – someone who I admire a lot, I thought he was excellent at Bournemouth, and a real good signing for them – so they’re going to be a big test.
“Isak is one of the best number nines in the league for me, so they are a team that are going to test us, definitely, but a team that we played twice last season, a team that we did pretty well against in both fixtures. I know the away one we end up losing comfortably, but it wasn't the full story of the game, especially for where we were at that time.
“I’m looking forward to getting back into Molineux, getting the group that we know we're going to work with from now till January, at least, and seeing if we can start to upset a few people like we like we managed to last season.
“A lot of our results came unexpectedly last year, and we're going to need some of them again this season. I’m really looking forward to the challenge.”
On his relationship with Toon counterpart Eddie Howe, O'Neil continued: “Eddie and his team of staff and the team of players have had an incredible couple of years up there, and I'm sure they'll continue to do so.
“I know Eddie well, he’s done an excellent job there. I have a real respect for him and what he's done. British, English managers working in the Premier League, there's not too many, so it's nice to see Eddie, especially as high up the league as he is and as he's been over the last few years.
“He’s worked his socks off to take Bournemouth from the bottom of League Two to get himself to a club that competes in the Champions League last season, so it’s been an incredible journey for him. But you don't get that through luck or without sacrifice or without an awful lot of hard work and intelligence, so Ed’s a really good manager.”