Morley, part of Villa's 1982 side, believes Young's combination of skill and raw pace can torment defences in the Premier League.
Young, who suffered penalty shoot-out heartbreak with the England Under-21 squad against hosts Holland in the European Championships last night, moved from Watford to Villa for an initial £8million in January and started to show signs of his undoubted potential by the end of the campaign.
Morley told the club's official website: "I like Ashley Young. He's got pace, lots of skill and he likes to get at defenders. That makes him an exciting player to watch.
"No defender likes coming up against players who attack with pace and, from what I've seen of Ashley Young, he can be very direct.
"It was a big move for him in January and it might have taken him a while to settle down at Villa but he did well towards the end of the season.
"I thought he had a great game when he scored in the home win against Sheffield United. He terrorised their defenders and that's what Martin O'Neill bought him for.
"He's definitely one to watch next season and I think everyone at the club will have high expectations for him once he's got a full pre-season under his belt.
"I know I'm looking forward to seeing what he can do next season. There are a lot of reasons to be optimistic at Villa and Ashley Young is one of them."