They needed just 37 overs to bowl England out for a meagre 103 on Sunday's fourth day, paceman Mitchell Johnson leading the way with three cheap wickets, having set their arch-rivals a mammoth victory target of 509 runs.
Clarke's men produced a near-ideal display to level the five-match series at 1-1 after their 169-run loss, also inside four days, in the first test in Cardiff.
Australia never looked back at Lord's after piling up 566 for eight declared in a first innings that featured test-best scores from both Steven Smith (215) and Chris Rogers (173).
"I think the game was set up by the way we batted in the first innings, by the way we stopped England's momentum from the first test," said Clarke.
"That's why I think Chris Rogers and Steve Smith deserve a lot of credit.
"Obviously when we got a crack with the ball the boys executed really well and we continued that in the second innings."
However, Clarke added: "I think the other thing is to obviously be extremely happy with the way we performed but also respect that we've only played two test matches in a five-test series.
"I still see areas where we can get better, a few of us would definitely like to score some more runs, I'd like to see no dropped catches.
"So we turn up to training in Derby in a couple of days and we try and get better," said Clarke ahead of next week's three-day tour game which will provide Australia's lead-in to the third test at Edgbaston starting on July 29.
"That's why I think Chris Rogers and Steve Smith deserve a lot of credit.
"Obviously when we got a crack with the ball the boys executed really well and we continued that in the second innings."
However, Clarke added: "I think the other thing is to obviously be extremely happy with the way we performed but also respect that we've only played two test matches in a five-test series.
"I still see areas where we can get better, a few of us would definitely like to score some more runs, I'd like to see no dropped catches.
"So we turn up to training in Derby in a couple of days and we try and get better," said Clarke ahead of next week's three-day tour game which will provide Australia's lead-in to the third test at Edgbaston starting on July 29.
