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Shearer has given a nod to Arne Slot for steering the Reds to a commanding 13-point lead in the league, despite the absence of significant acquisitions last summer.
Salah, who tops the scoring charts this season with 25 goals, has been pivotal in making Liverpool the clear frontrunners for a second Premier League title in five years.
His stellar form has even sparked conversations about him being a contender for the Ballon d'Or.
Shearer, in conversation with Betfair, is confident that Liverpool will manage to keep its star forward: "I think without a doubt that this is the best version of Mo Salah we've seen," he remarked.
"I said earlier in the season that we should see what happens in terms of a 1 percent drop in his levels due to his contract situation; but that hasn't happened, on the contrary he seems to be getting even better and stronger as the season goes on.
"There's still no word on his contract situation, but I'd be amazed if Liverpool don't sort something out to keep him at least for another year or two.
Losing Mo Salah would be huge for Liverpool and the Premier League, because he's an iconic player.
"Everything he's doing right now seems to result in either a goal or an assist.
He is an icon of the Premier League, no doubt about it.
"What's impressed me the most about Liverpool this season is that, besides Federico Chiesa, it didn't sign anyone, which is really unusual.
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