However, Villa manager Gerard Houllier is prepared for a fight to keep his talisman and has said it will take an £80million offer to secure his services in the January transfer window.
Young is happy at Villa and believes they have the makings of an exciting team with a nucleus of young players, but interest from Liverpool and United would turn his head.
Hands off: Aston Villa will demand £80m if Manchester United and Liverpool table a bid for Young
Young has yet to sign a new contract with Villa and has just 18 months left on his current deal. Liverpool are keen to recruit top young English players with a sprinkling of foreign talent and believe Young can play a key role in their rebuilding.
United also admire Young's profile, with his ability to play either flank and down the middle. They may also be able to throw a player into the equation, with Villa keen on Michael Carrick and Darron Gibson. However, the key to either deal will be Villa's asking price and that may yet push negotiations towards the summer.
Meanwhile, Villa's assistant manager Gary McAllister was among the crowdat Ibrox to see Rangers goalkeeper Allan McGregor in Champions League action against Manchester United on Wednesday night.
In demand: Villa are monitoring Rangers goalkeeper Allan McGregor
Houllier's number two was running the rule over the Scotland international with Villa's boss on the hunt to strengthen in the goalkeeping department.
In other news, Aston Villa chief scout Jeff Vetere has been joined by Lil Fuccillo at Villa Park.
The former Luton Town midfielder has linked up with Vetere again after their spell together at Newcastle United.
Explore more:People: Ashley Young, Gerard Houllier, Gary McAllister Places: Liverpool, Scotland, United Kingdom