The 23-year-old World Cup winner was brought in for €35 million (£30m/$39m) this summer alongside compatriots Lucas Hernandez and Mickael Cuisance, while Bayern also signed Philippe Coutinho and Ivan Perisic on loan.
The reigning Bundesliga title holders beat Cologne 4-0 on Saturday, after starting their Champions League campaign with a 3-0 win over Red Star Belgrade in midweek.
Pavard has impressed since his arrival, playing 90 minutes in each of Bayern’s games so far this season, and Hoeness has high hopes for him moving forward.
“After only a few weeks, he has shown that he will be one of the best transfers we have ever made,” he told Sport1.
“It does not matter to me what a player costs. It has always been clear to me that he will prove to be an outstanding transfer, especially as he has a wonderful character.”
Sporting director Hasan Salihamidzic added to the praise, saying: “Stay tuned, because this is only the beginning. I’m very happy with him and his development, and since he has been here, he has done well and behaved very professionally.”
Pavard came through the youth system at Lille before spending three years at Stuttgart, but it was at last summer’s World Cup that he made his name with a memorable swerving strike in the last 16 against Argentina.
He and Hernandez played together in that game and have been featuring regularly since joining Bayern this summer.
The pair have helped ensure Mats Hummels has not been missed after his return to Borussia Dortmund, while the presence of Niklas Sule has meant the experienced Jerome Boateng has only featured sporadically.
Hernandez has appreciated having Pavard around as he has settled into life in Bavaria, and he has no doubts about his quality.
“He’s a great player,” Hernandez said. “He has shown that in the national team, and now in our Champions League match.
“He is a very good defender who can play almost any position in the defensive line. I really appreciate him, we have been playing together in the national team for a while now – and luckily now for our club as well.”