The former Saints star believes Old Trafford would be the best destination for the midfielder if he leaves St Mary's this summer.
The France international is the subject of intense speculation for the second year running, having been linked with a number of clubs last summer and once again ahead of the upcoming transfer window.
The Saints managed to hold on to him last year though, despite a number of fellow stars leaving for elsewhere, and would more than likely be keen to keep him this time around as well.
Le Tissier, though, believes the club would not stand in his way again should he wish to depart, suggesting Manchester United as the most likely destination for the classy 25-year-old.
“It’s probably more likely that he’ll leave than stay,” he said.
“The big question is whether a top-four side meets his valuation. Out of those sides it is Manchester United that need him most as they still require strengthening in that position.”
When it comes to selling star players, Southampton have proved adept at receiving premium prices for their talent in the past, and Schneiderlin is sure to be another such deal.
The club allowed the likes of Luke Shaw, Adam Lallana, Dejan Lovren and Calum Chambers to leave last year for significant transfer fees, and Le Tissier thinks any potential sale of the midfielder would once again represent good business for the club.
“We paid about £1million for him back in 2008, so with another decent transfer fee it certainly represents another good return,” he added.
“I think Southampton have always been fair with players and not stood in their way when bigger clubs have met their valuation, which was shown last summer. Schneiderlin’s case last summer was under exceptional circumstances as so many players had already left.”