The 19-year-old has won the September under-21 Player of the Month Award, and he has already made three appearances for Newcastle's senior squad.
However, McClaren is keen to ensure that the youngsters does not rest on his laurels, and has been encouraging him to kick-on.
"He says I've got to keep on doing what I have been so far, he's told me I'm doing well but I can't rest on that, I have to push on again," Toney explained.
Toney is used to playing regular first-team football, given his experience with Northampton Town last season.
The youngster became one of the Cobblers' main players last term, and he scored 10 times in 44 appearances.
That form was enough to convince Newcastle to bring him to Tyneside, and the initial signs are that he could be a very astute purchase.
Toney has played three games for the Magpies' under-21 side so far, and scored twice during that time.