The Ivory Coast international has had to be patient for his breakthrough in the Red Devils' setup since joining from Atalanta BC in 2021, spending time out on loan with both Rangers and Sunderland in recent years.
After shining for the Black Cats with 14 goals in the Championship regular season and playoffs, Diallo was integrated into Erik ten Hag's squad for the 2022-23 season, only to make just 12 appearances due to injury.
However, the 22-year-old has already been involved in each of the Red Devils' first four games of the new Premier League season, starting three of them and providing one goal and one assist.
Diallo was on target in Man United's 2-1 loss to Brighton & Hove Albion on matchday two, before setting up Marcus Rashford's effort in the 3-0 beating of Southampton last weekend.
Diallo to be rewarded with 'big-money' deal?
Thanks to his rise to prominence under Ten Hag, Football Insider claims that Diallo will be in line for a new lucrative contract if he can maintain his eye-catching form in the coming months.
The Ivorian attacker could become a free agent at the end of the season as things stand, but Man United have the option to extend his contract by a further 12 months until the summer of 2026.
Should no new long-term deal be agreed in the coming months, Man United will likely trigger that option around Christmas time, as they have done in previous instances to avoid players entering pre-contract talks with foreign teams.
Diallo's short-term extension would be expected to precede a long-term agreement, but the report adds that there is no internal panic within the Old Trafford walls about the prospect of losing him next year.
The former Atalanta winger was an £18m acquisition from Atalanta during the Ole Gunnar Solskjaer era, and he has amassed four goals and three assists in 26 games for the Red Devils over the past three-and-a-half years.
Which other Man Utd players are out of contract in 2025?
Diallo is one of six Man United players who are in the last year of their deals at the Theatre of Dreams, although the other five troops on that list are closer to the end of their Man United careers.
Harry Maguire and Victor Lindelof - two former defensive cornerstones of the Red Devils - are out of contract in 2025 and have been pushed down the pecking order by new arrivals Matthijs de Ligt and Leny Yoro.
Maguire's deal includes a 12-month extension, but the club activated that option in Lindelof's deal back in January, and the Swede is expected to head for the exit door at the end of the campaign.
Jonny Evans had his stay prolonged by a further 12 months in the summer but is also likely to depart next summer, while Tom Heaton and Christian Eriksen may also leave for nothing.
Man United kick off their EFL Cup campaign against Barnsley on Tuesday evening before heading to Crystal Palace for Saturday's Premier League fixture.