"Great player, and that's just a fact," Young said Friday on the "Rich Eisen Show."
The Hall of Fame quarterback praised Purdy's processing ability and believes the 24-year-old will only improve with more experience. This would be good news for the 49ers, who will need to make Purdy one of the highest-paid players in the NFL, if not the highest-paid, next year.
"He's gonna be able to get the ball out quickly," Young continued. "He has to. He said to everyone, 'I'm not as big, I'm not as fast, I'm not as strong. I can't just wait in the pocket and then sling it.' So he's going to process, and he's going to get the ball out, and then people are going to start to see that, and they're going to start running where he's looking because he knows he's got to let it go. And he's going to have to change his game as people get more of a beat on him.
"But as far as playing quarterback in the NFL, if you wanna be good, you gotta be a great processor, and the dude is elite, and that's not going to change. He's going to be challenged, and especially if he loses some talent, if [WR] Brandon [Aiyuk] doesn't sign, but they've got so many guys, and that's what you need in the NFL.
"You need a lot of help at quarterback. When you get a lot of help, you get good really fast."
Aiyuk is signed through the upcoming season but seeks to become one of the NFL's highest-paid wide receivers. He is coming off a career season in which he led the team with 1,342 receiving yards, helping Purdy set a single-season franchise record with 4,280 passing yards.
Purdy also has running back Christian McCaffrey, wide receiver Deebo Samuel, and tight end George Kittle at his disposal, which will help him build upon his early success.
Young has no qualms about labeling Purdy as "elite."
"He is [elite]," Young declared. "Processing, a lot of times, is experience as well. He's not as experienced as others, but as far as the ability to take the ball and then process through, find the truth in the play, and get the ball out to it, it's as good as it gets.
"He doesn't go from the last pick in the draft to being one of the better players without having something very special. And the special part of him is this processing power that he has."