
The 23-year-old Briton told Deutsche Presse-Agentur dpa he was going into the season this weekend at the Australian Grand Prix in Melbourne feeling less pressure on him than in his rookie year.
Hamilton was narrowly beaten by Ferrari's Kimi Raikkonen last season, finishing a point adrift, alongside former McLaren-Mercedes team-mate Fernando Alonso.
The Finnish driver and Hamilton are being seen as leading contenders for the 2008 drivers' title.
"I come out of last season feeling a lot stronger. Today I know a lot more about the car, as well as about the team, the circuits, and the regulations," Hamilton said.
"I also know a lot more about myself. I know more about the countries I travel to. I know more about winning, about qualifying and I think I am a better driver than a year ago."
Hamilton was on the podium 12 times in his 17 races last season, winning four of them, with six pole positions to his name.
Now he goes into his second season with more experience, with greater awareness of the circuits and of life in the Formula One paddock.
"I'm a little bit older and I'm a lot wiser," he said.
"I now feel I've established myself as part of the team. It's fantastic that the team wants to work with me for the next five years and to know that I've found my place here.
"Now I know what to expect, I know about my preparations so I am storing energy. To some people it might appear that I am quieter or something along those lines, but I am saving all this energy for the first race."
Hamilton said he was confident going into Sunday's first race that the McLaren-Mercedes team "have a good chance to fight for both championship titles, and this means that also my new team-mate Heikki Kovalainen has a chance to win the drivers' championship."
Ferrari would again be the main rival, although teams like Williams, Renault and Red Bull had shown good results in testing.
"But I also think our game-plan will be a little bit better than last year. Like anyone, I will work hard for my part and I'm very confident," he said.
Hamilton's rivalry with Spain's Alonso led to him being the subject of racial taunts while testing in Barcelona early last month.
But Hamilton, the first black driver to compete in Formula One, said he foresaw no problems racing in Spain this year.
He described his relationship with Alonso, now with Renault, as "like always," adding, "We're gonna be out there to beat each other."
By Jens Marx, dpa