The England Under-21 international was an ever-present for the Rams last term and his impressive performances have seen his name linked with a number of top clubs.
And Clough believes the 18-year-old has what it takes to carry on improving.
He told the club's official website: "His form was incredibly mature all season long last year we're sure that'll be the case next year.
"For someone that turned 18 just a few weeks before last season's end, you can't fail but be impressed with how he's done.
"To be playing regularly at 17 or 18 is staggering really at this level of football and to deal with the speculation linking him away from the club.
"Summing up the last year, Will has been incredible and an absolute revelation to be honest.
"We didn't have any doubts about him in terms of ability, but we did wonder if he could handle it in the centre of midfield in the Championship and after two or three games it was pretty clear he could.
"We really expect him to start this season even better as well.
"He's looked fresh after his break and we think given he's only going to get better he will make more of an impact, especially if the opening stages of season are anything to go by."