Young has been one of the stand-out performers for United in the last month as the club have bounced back from FA Cup elimination at the hands of Arsenal to secure impressive victories against Tottenham, Liverpool, Aston Villa and Manchester City.
The England winger scored one and set up another two in Sunday’s derby victory against City, which moved Louis van Gaal’s men closer to Champions League qualification via a top-four Premier League finish.
United opened talks with Young several weeks ago and he is expected to take a slight cut on his current €166,000-per-week deal, although he is likely to make up the total figure in bonuses.
Van Gaal has assured the midfielder, who will be 30 in July, that he is an important part of his plans at Old Trafford.
Indeed, he has kept British record signing Angel Di Maria out of the starting line-up in recent weeks and is currently enjoying some of his best performances since joining United from Aston Villa in 2011.
Young started his United career positively, most notably in the landmark 8-2 victory against Arsenal, but has often struggled to nail down a starting berth.
But he is beginning to form an understanding on the left-hand side with stand-in left-back Daley Blind and advanced midfielder Marouane Fellaini, another maligned member of the squad who has enjoyed a drastic upturn in fortunes this season.
United signed Michael Carrick up to a one-year extension at the end of March, while preliminary talks have been held with Chris Smalling and Phil Jones, and a new deal for young striker James Wilson is in the offing.