The 40-yea-old has been without a club since leaving Everton once his contract expired at the end of last season.
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Young had been close to re-joining boyhood club Watford, but the two parties were unable to agree terms and the move ultimately fell through.
According to talkSPORT, he is now set to join up with Kieran McKenna, who was part of the coaching stall while he was at Man United, and Ipswich Town.
Ipswich were unable to stay in the Premier League last season despite some valiant efforts, and they seek to return at the first time of asking in 2025-26.