Although Casey Stoner and Honda have tended to have a narrow edge in winter testing, Lorenzo is certain Yamaha has a competitive package.
"This is the best bike I've ever ridden," he told Motosprint after finishing winter testing at Jerez. "Everything went well, I'm really satisfied. The race simulation was high quality, because I went quick and I always maintained a consistent pace with no drop-offs.
"Most of all, I've never had any problems, neither myself nor my bike. So, everything's well."
Lorenzo feels he is coming into 2012 in both better fitness and a better psychological position than he had been in previous years.
"I'm very relaxed because this has probably been my best winter: the bike was born well and has always kept improving, and I've always been in good physical condition," he said.
"I must say I also feel more mature: I've learned many things from last year's experiences, and this will help me for sure."
The 2010 world champion said Yamaha was still trying to match Honda's traction control systems.
"Here we've worked more or less on everything, but at some point we focused on engine's electronics: we think it can give us a hand in improving the bike's performance under acceleration, as it remains an aspect in which we are still a bit behind Honda," Lorenzo said.
He also reckons 2012 is set to see more exciting MotoGP races than recent seasons, thanks to the change in Bridgestone tyre specification.
"The crucial factor now is tyre degradation," said Lorenzo. "They wear very quickly, you can feel the difference after some 10 laps already, and I think the final part of the races will be very difficult. The difference will be there.
"But I think unpredictable ends to the races will be a good thing for the show too."