The Tigers secured promotion to after finishing second in the Championship, and their managing director expects plenty of action in the transfer window this summer
The newly promoted club are set for their first campaign in the top flight since 2010, and Thompson is mindful that adding the right faces to the squad will play a crucial part in determining their success.
"We want players who are with us for the long-term, not just a short-term pay cheque where if it goes wrong it'll be 'Thanks very much' and we're back to square one," Thompson told the Hull Daily Mail.
"Short-term fixes will get you into trouble in the Premier League. It's ensuring that whatever you do, it adds quality to the squad going forward.
"I think we'll be looking at perhaps four, five or six coming in. Maybe it will be slightly more, maybe slightly less, but it would be somewhere around that."
With the transfer window set top open in just over a month, Thompson stressed that plenty of work is already going on behind closed doors to draw up a list of targets.
"It's safe to say we're in the process of getting our ducks lined up," he continued.
"I'd hope to see the first new signings going through by the middle of June, two or three weeks away.
"We might work quicker or we might have to wait on certain players, but transfer deals don't just happen.
"Even when we're talking to players now, they're keen to keep their options open. You're jostling for position at the moment and seeing where you end up standing.
"The challenge with planning on the playing side is that it's a moving feast.
"Players become available all the time, they come into clubs, they drop out. Some clubs want to sell, some don't want to sell.
"The reality is that the international window doesn't open until the middle of June and the home window doesn't open until the start of July, so it's really about being prepared. Steve is away on holiday but we speak every day."