In the past six seasons Clarkson has taken the Hawks to three grand finals for two premierships.
Just hours after the club's 15-point triumph over Fremantle on Saturday, Newbold sung the coach's praises at the club's celebratory function at the Palladium at Crown.
"Of Alastair and his men, who have coached this group with intelligence and resolve, to lose only three games this year is just quite an outstanding effort. Quite simply you are the best coach and coaching group in the AFL," he said.
"Alastair, you can now quite rightfully take your place amongst the great coaches of this club in Allan Jeans and John Kennedy senior. That is rarefied air."
Kennedy took the Hawks to their first three premierships (1961, 1971 and 1976), while Jeans presided over three flags (1983, 1986 and 1989) in the club's golden era.
Kennedy also coached Clarkson in his first three seasons as a player at North Melbourne from 1987-89.
Fittingly, 84-year-old Kennedy presented Clarkson and skipper Luke Hodge with the club's 11th premiership cup (which, incidentally, continued the club's record of winning a premiership every decade since the 1960s).
"It was a really touching moment for me post-game … I was just so proud and privileged to be standing on the stage at the end of the day and 'Kanga' to hand over the cup to 'Hodgey' and myself … It was a very, very special moment for our club," he said.
"He is the absolute godfather of this footy club. He's a pioneer of our culture, he's just been superb for our footy club (and) he continues to support us."
Clarkson also spared a thought for Freo counterpart Ross Lyon, who became the first man to coach in four grand finals without winning a premiership.
"He is an outstanding coach. He's done an enormous amount of work with their club over the last couple of years and they are a very, very formidable side, (and) they are only going to get better..." he said.
"Commiserations to Ross. It's a tough, hard game. I was in exactly the same position last year and I know how tough it is to cope with a grand final loss. You go into a loser's cave for a couple of weeks. But he'll bounce back; he's made of the right stuff."
Twitter: @AFL_BenCollins