Luck is regarded as one of the brightest young players in the league at the moment having broken a number of NFL records in his rookie season last year.
The 23-year-old's performances have drawn comparisons to other high-quality quarterbacks, but Wayne believes that Luck should forge his own legacy rather than trying to follow in anybody's footsteps.
"What I would much rather Andrew do is build his own legacy, whatever that is," Wayne told NBC Sports.
"I like what I see. Well, actually, I love what I see in him. He's going to be very good. He really is, and as long as we can keep him clean up front and the skill guys continue to make plays for him, he is going to be the face of the NFL soon."
Luck was selected as the first overall pick in the 2012 Draft and steered the Colts to the playoffs with an 11-5 record last season.