The England international’s current contract is set to expire at the end of the season, but he has been offered a new deal after a good start to the season.
The full-back was named United’s Player of the Month for August and recently earned a recall to the national team.
The Sunday Express claims the new deal is thought to be worth around £150,000 a week.
Shaw has been linked with a move to London side Totttenham Hotspur in recent weeks.