Lott, a 26-year-old trainee professional at Royal Sydney, has agreed to carry the bag for Faldo, a winner of six majors, during next year's US PGA Tour.
Lott caddied for Faldo at last month's Australian Open after Sunesson told the three times British Open and US Masters champion that she wanted to go her own way after 10 years as his caddie and confidante. She has since announced she will work for Spain's Sergio Garcia.
"Nick first asked me if I wanted to caddie for him in the States during the Australian Open," said Lott, who has also worked for European tour players Peter O'Malley and Pedro Linhart. "He expressed his appreciation for what I did for him at Royal Sydney and since then I've been on the phone a few times to him sorting out arrangements.
"It's a big move for me - but I would not entertain the thought of going to America to join him if I didn't see the guy winning again."