Bruce is preparing his side to face Lukaku for the second time this season - the Belgium striker having been a substitute for the Blues in the first game of the season at Stamford Bridge.
Many Chelsea fans have been perplexed at the decision to send the striker on loan, but Bruce thinks Mourinho has spotted a way to improve his side's title prospects in a less conventional way.
"He's a hell of a loan signing on deadline day, someone like Lukaku. I saw him playing for Belgium in midweek and he's going to be one hell of a player," said Bruce.
"Maybe the reason why he's gone there is Jose has thought 'maybe Everton can go and get a few points off the big boys with him in their team'.
"That would be pretty shrewd really and I think they can.
"Roberto Martinez inherited a very good side and with the addition of Lukaku and James McCarthy they've really added to a squad which has grown well over the last few years."
Hull's own loan striker, Danny Graham, has yet to score in seven matches for the Tigers, but he is refusing to be too downcast.
"Obviously it would be nice to get that goal, but the most important thing at the moment is that the team is doing well," he told Tigers Player.
"There's no egos or individuals in this team, everybody just wants to do well for each other.
"I'd like to think that I'm contributing to a team that is doing well at the moment. If I wasn't doing that, I don't think the gaffer would have me in the team.
"Once that goal comes, hopefully we can enjoy it and continue to have a good season."