The England full-back has enjoyed nine successful years at United, winning the Premier League, FA Cup, Europa League and Carabao Cup.
In total Young has amassed 227 appearances for the club, playing under the stewardship of Sir Alex Ferguson, David Moyes, Louis Van Gaal, Jose Mourinho and now Ole Gunnar Solskjaer.
Solskjaer is currently serving as United's caretaker boss, but he has been widely tipped to be appointed the club's next permanent manager after overseeing ten wins in 11 matches.
Despite his advancing years, Young has been one of the players to directly benefit from the Norweigian's forward-thinking style, giving him the license to join in attacks in addition to fulfilling his defensive duties.
In the earlier stages of his career, the veteran full-back played as a winger, before Mourinho identified his capabilities as a defender.
Young now joins Chris Smalling, Phil Jones and Anthony Martial on the list of players who have committed to fresh deals at Old Trafford recently, while negotiations with David de Gea remain ongoing.
The Red Devils are now preparing for a huge last 16 Champions League tie against Paris Saint Germain, with the first leg taking place in Manchester on Tuesday evening.
Solskjaer is expected to name Young in the starting the line-up against the French champions, after resting him for the 3-0 win against Fulham on Saturday.
United will then turn their attention to the FA Cup next Monday, with a trip to Stamford Bridge to face reigning champions Chelsea on the cards.