Despite the forward's reported intention to leave United in the summer, Neville believes that he would commit his future to the club if an extension were offered.
"I can't think of any reason why Wayne Rooney, with the form that he is in and how important he has been to Man United, [wouldn't get a new contract]," Neville told talkSPORT.
"He's been one of the only constants in what has been the most successful period in Manchester United's history and people shouldn't forget that.
"At the moment, I see no reason why Wayne Rooney wouldn't want to continue enjoying his football, the way he is, and play at Manchester United."
Rooney was the subject of two rejected bids from Chelsea in the summer transfer window.