The winger has not played for the Premier League club since January due to a groin injury.
The news that the former Aston Villa man may be in contention to face the Reds on Thursday is likely to be a timely boost for Louis van Gaal as his side have plenty of work to do if they hope to qualify for the next stage of the competition.
The Merseyside club have one foot in the quarter-final after winning the first leg 2-0 at Anfield thanks to goals from Daniel Sturridge and Roberto Firmino.
Although the Dutchman may decide to take a cautious approach regarding Young's involvement in the game, the attacking intent he will give them will surely help as they try to unlock Liverpool's defence and score the goals that could take them through to the last eight.
However, he will also be aware that risking Young's fitness for the game could backfire and could harm their chances of making it into the top four.
With Manchester City losing both Vincent Kompany and Nicholas Otamendi to injury during their Champions League tie on Tuesday (via Daily Mail), their chances of remaining in that coveted fourth spot could be severely dented if the pair are out for a long time, potentially leaving the door open for one of the chasing pack to swoop in.
And with United being City's next opponents, van Gaal will want to ensure that he has as strong a squad as possible available to him for that game.