According to reports in the Daily Mail, the 22-year-old has been given a deal that ties him to the Red Devils till 2015, but will now be paid in the same pay bracket as Chris Smalling and Phil Jones, who both receive around £40,000-a-week.
Sir Alex Ferguson's willingness to secure the young Englishman on improved terms is clear approval of Cleverley's performances for the Red Devils, which has helped compensate for Paul Scholes retirement, as well as their failure to sign Wesley Sneijder from Inter Milan last summer.
"Tom is one of the brightest prospects in the English game," said manager Sir Alex Ferguson.
"For a young boy, he has a good footballing brain which, when coupled with his energy and ability, makes for a player with a fine future ahead of him," added Ferguson.
"It's the United way to encourage our young players to make their mark in the first team and Tom has grabbed that chance with both hands."
The England U-21 star was also given his first call-up for the senior Three Lions in their cancelled friendly against Holland in August, but the fixture was cancelled due to the riots that swept England.
He received another call-up for the Euro 2012 qualifying matches with Bulgaria and Wales later in September 2011 alongside fellow new England additions and club teammates Jones and Smalling, but did not end up being in the squad.
"It's been a fantastic start to the season for me, breaking into the first team and getting an England call-up," he said.
Cleverley also earned a place in the United line-up ahead of Michael Carrick for their first four Barclays Premier League games, but then damaged ligaments in a challenge with Kevin Davies at Bolton and has been sidelined since.
The young star was pleased with his new contract, and crowed: "It's been a fantastic start to the season for me, breaking into the first team and getting an England call-up."
"Having grown up at the club, I'd love to be able to make a contribution to United winning more trophies.
"We have a squad with great ability and I can't wait to get started again."
After handing Cleverley a new deal, United are now expected to look to tie down Danny Welbeck to a long-term contract as well.