Lund, a native of Skien, Norway, studied at the Berklee College of Music in Boston and the Juilliard School. He has performed and recorded with saxophonist Jaleel Shaw and led his own group in New York City clubs.
Lund wins a $20,000 scholarship.
Miles Okazaki, who studied at the Manhattan School of Music and currently plays with vocalist Jane Monheit, won second place and $10,000; David Mooney, a member of several New Orleans-based groups, finished third and receives $5,000.
The prestigious Monk Competition is open to musicians under the age of 30 who have not led recordings. This year's judges included guitarists Earl Klugh, Russell Malone, John Pizzarelli, Bill Frisell, and Pat Martino.
The competition was founded in 1987; it focuses on a different instrument each year. Previous winners include Monheit, pianist Marcus Roberts, trumpeter Ryan Kisor, saxophonist Joshua Redman, and pianist Jacky Terrasson.