Shearer flourished as a striker under Dalglish during his playing days at Blackburn and is convinced Carroll is on his way to fulfilling his considerable potential with the Scot at the helm.
Last month, England manager Fabio Capello criticised the 22-year-old's lifestyle, urging the player to drink less alcohol and behave more professionally. Shearer admits he was surprised by Capello's approach.
"I was slightly surprised," Shearer told the Daily Mail.
"I wouldn't have been happy if he'd come out and done that to me in public. He had his own reasons but I was brought up with managers who tried to keep things in-house.
"When I moved to Blackburn, I had great guidance there.
"I know Kenny hasn't changed and I am sure he will protect Andy and look after him in the same way.
"Andy's been brought up in the North East, where people enjoy their life. That's all he's known. He's still inexperienced in life and as a footballer."
Carroll has made a frustrating start to the new Barclays Premier League season but Shearer reckons the towering striker will hit another level after a difficult settling in period.
Carroll broke the deadlock for Liverpool in Saturday's 2-0 win over Merseyside rivals Everton - his first Barclays Premier League goal of the season for the Reds since they made him the most expensive British footballer in history.
Liverpool paid Newcastle £35million to bring Carrol to Anfield in January.
"Andy hasn't quite got to the heights I know he can yet," Shearer said.
"But that £35m fee is a lot to deal with. A lot of these guys, myself included, were brought up on council estates without getting a great education.
"At 16, 17, 18, you are thrust into the spotlight, then you're on big money and you are expected to handle all the stuff that comes with it.
"I do, however, see him as an England centre forward. Once he settles down and score goals, you'll see the fearsome centre forward we saw at Newcastle.
"He's got a great manager who understands the trials and tribulations of being a young footballer."
Shearer has first hand knowledge of the 22-year-old's abilities having managed the player during a short spell at Newcastle back in April 2009.