The U.S. No. 1 does not fear for his place after Roberto Martinez signed the Atletico Madrid goalkeeper, and he believes the youngster's presence can only improve the Toffees.
The 34-year-old American veteran has been the first-choice option at Goodison Park since he signed for the club from Manchester United back in 2006 and has never had any serious threat to his place on the team sheet.
Joel has been touted as a successor to Howard, but the U.S. backstop does not fear for his No. 1 jersey following the Spaniard's arrival and believes competition for places can only improve the team.
"In order to go on and achieve great things as a club, you need to have quality in numbers," Howard told the club's official website. "I think that's part and parcel of football nowadays.
"I don't think anyone's fearful of competition, I don't think there are any issues. You just get on with your job.
"I think if you have anything about you, you know your best is good enough.
"You put forward the effort and I don't think that has ever been a problem here."
Howard has made 310 appearances in his Everton career so far, and he conceded just 39 goals in 36 Premier League games last season, keeping 10 clean sheets.