That view was shared by manager Jose Mourinho earlier this season after a seemingly difficult relationship between the pair in 2016/17, but Shaw has once again been on the receiving end of heavy criticism from the boss this month, resulting in accusations of 'bullying'.
The rest of the United squad have reportedly taken Shaw's side and Young has publicly backed the former Southampton prodigy for future success.
"He's a fantastic player," Young told BBC Sport while on England duty this week.
"I want to see Luke do well. He just has to get his head down and work. I feel he can be one of the best in the world, like I say he has just got to work hard."
Shaw, who became the world's then most expensive teenager when he first joined United for around £30m in the summer of 2014, had overcome persistent injury and fitness worries to make four consecutive Premier League starts in December and January.
However, his only Premier League start since that run was the 2-0 win over Huddersfield in early February, while he was hauled off at half-time against Brighton in the FA Cup on Saturday after being berated by Mourinho for 45 minutes - the source of the renewed speculation on his future.
Shaw's debut season at United under Louis van Gaal had been hindered by poor fitness and he worked incredibly hard that summer to get himself in good shape. The effort looked to have paid off after an incredible start to 2015/16, only to suffer a devastating broken leg mere weeks later.