Sancho has been linked with a move away from Borussia Dortmund this summer, with top clubs in Europe hoping to secure his services.
Dortmund have recently revealed that Sancho will be allowed to leave Signal Iduna if his asking price is met, an announcement that put the likes of Liverpool, Chelsea, Manchester United and Real Madrid on alert.
Rashford has labeled Sancho as a great player and insists he would relish playing alongside the former Manchester City man under Ole Gunnar Solskjaer.
In a live Instagram interview with Bleacher Report, Rashford was asked how Sancho would link up with the Red Devils attack, and he replied: "I think our link-up play would be good.”
"Sancho is a great player, he's like the new generation of player. It's exciting to watch him become the player he is developing into. Hopefully we can all play together, that would be good."
The Manchester United academy graduate added: "Sancho plays off the cuff, he's creative, imaginative, and those are the things that you need to do well in this generation [of football]."
Bruno Fernandes joined the Manchester-based club in the winter transfer window, and has instantly become the fans’ favourite following his marvelous performances in his few months in England.
Rashford has not played for United since picking up an injury against Wolverhampton Wanderers in the FA Cup in January, the Englishman says he cannot wait to play with the Portuguese.
He added: “He's creative, he's forward-thinking, he always wants to play the ball forward and create opportunities.”
"It's going to be good to play with him, hopefully we can have some good times. He's got such a positive attitude, the vibe he brings to the team is just positive.
"Even when he does lose the ball or makes a mistake, he's always running, working hard to win it back and that definitely rubs off on the other players. He's had a positive impact so hopefully he carries that on."