Brendan Rodgers secured a derby day victory at Ibrox to ensure his side are four points clear of their rivals heading into the international break.
O'Neill was delighted with the result and performance by his former side and he now believes the victory has given Celtic a platform to go on and improve.
"But that win against Rangers is huge in the title race, even this early in the season. As for Rangers... what a bad couple of days for them; getting knocked out of Champions League qualifying, in terms of prestige it's bad enough, but also the finance side of things, it's a huge blow to them. Celtic have the upper hand over them in that respect, and they're four points clear of them in the league - Celtic should be able to go on and win that title now, you would expect.
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