The 17-year-old has made 16 appearances for the Saints this season and after witnessing some of the left-back's displays for himself, Pearce believes that Shaw is an "outstanding talent" and that he could feature for his Under-21 side against Sweden next month.
When asked how far away Shaw is from an international call-up, Pearce told BBC South Sport: "Probably about two weeks away. I think Luke is an outstanding talent.
"I've seen a fair bit of him over the last month or so. I'll be down on Monday to watch the game against Everton, I was there on Wednesday night against Chelsea also.
"I don't think I've seen him play badly in all the games I've seen of him. For a 17-year-old playing at that standard that's quite impressive."
Shaw has previously represented England at Under-16 and Under-17 level.