The 16-year-old has been linked with a move away from St Mary's and reports suggest Chelsea are poised to offer £4million for him. Manchester United, Manchester City and Arsenal have also been linked with the latest product of Southampton's academy, which has already produced the likes of Alex Oxlade-Chamberlain, Gareth Bale and Theo Walcott.
All three left Southampton soon after breaking into the first team, but Press Association Sport understands the club will not allow Shaw to follow suit. Shaw will begin a three-year professional contract at Saints when he turns 17 next week
Shaw, who has represented England at under-16 and under-17 levels, has made one first-team appearance for the south coast club, coming off the bench in an FA Cup fourth-round replay against Millwall last season.
The full-back looks set to play a more important role this campaign, though, after Southampton announced in May that he was amongst four academy players who will join up with the first-team squad for pre-season training.