The former Newcastle United frontman, who made the switch to Anfield last year, had a tumultuous first full season with the Reds, but managed to pick up his form just in time to earn a call-up to Roy Hodgson's 23-man squad.
"He has finished the season well," the Daily Star quotes Shearer as saying. "The Andy Carroll that I saw coming on against Chelsea in the FA Cup final was the Andy Carroll I have seen week in and week out at Newcastle.
"He was bullying defenders, scoring goals, running the channels. We haven't seen much of that this season, he has not played as much as he would have liked. I don't know the reasons behind it, but the ability is there."