The Australian fast bowler announced his retirement on Friday from all forms of international cricket.
The 35-year-old pacer had earlier retired from Test cricket in February 2010 after taking 310 wickets in 76 matches, but continued playing for Australia in one-day matches and in the Twenty20 arena.
"This kid is going to be a superstar. He's only 19 years of age, he does everything with the ball, he's got a great temperament," Lee told The Daily Telegraph.
"He's like a sponge, he listens and soaks everything up. He asks a lot of questions, he wants to learn, and to know what he knows now as a teenager is phenomenal. I'm really looking forward to watching his career blossom over the next few years," he said.
Lee also claimed the criticism of Cummins for his injuries was unfair and unwarranted.
"People are saying he's always injured, now he's hurt his ribs, but if you try and run in and put your body on the line every single ball at 19 as I did, I can relate to what he's going through. He's just got so much to offer Australian cricket," Lee said.
Lee said he is keen to continue the mentoring process he began with Cummins, who is almost half the veteran's age.
"I've told him my phone is always on 24/7 for him. He's a huge find for Australian cricket and is going to be a big part of the Australian cricket team," he said. (ANI)