One of Hulk's agents has left door open to a move for the Brazil star after the Confederations Cup.
Blackburn Rovers boss Gary Bowyer says it would take a substantial offer for anyone to sign Martin Olsson this summer.
The 17-year-old caught the eye with 20 goals for Albion's youth team this season which earned him a call-up to the development squad.
"Shamir has worked very hard this season and scored a lot of goals so I'm very pleased for him," youth boss Martin Hinshelwood told the club website.
"He has always had the potential and we took him after a two-day trial as a 15-year-old. Now he has signed a pro contract he needs to be on his game every day, and if he does that I'm sure he'll do very well for this club."
The club have released development squad members Ryan Simmonds, Jamie Strong, Mitch Walker and Leon Redwood.