The Scotland number one has been linked with a move to Villa, although the Ibrox club's new owner, Craig Whyte, has said he is not for sale.
Hutton has no doubt about McGregor's ability but is heartened by the fact that, so far, the Scottish champions have managed to keep their big stars.
"You seen what Allan did last season, he was outstanding," said the 20-year-old midfielder, speaking on Thursday at the club's Murray Park training ground where he was helping to publicise the launch of the club's new away kit.
"The saves he pulled off and the way he conducts himself on the pitch, he could easily play in England.
"So if we can keep a hold of him, that will be a big plus.
"It is a bonus [that the squad is intact].
"If you are comfortable with your team-mates it can only be a good thing."
Hutton has yet to establish himself as a regular in the first team but he would welcome any new additions to the Rangers squad as they set out to capture their fourth consecutive SPL title next season.
"Competition is good for a club," he said. "If new signings come in, we will just have to deal with it.
"It's part and parcel of football so all you can do is keep doing your best and hopefully catch the gaffer's eye."
Rangers' players returned for pre-season training on Thursday and Hutton is hoping the transition to life under new boss Ally McCoist is seamless.
"You just have to start off where you left off last season," he said.
"Do everything you did last year and try to improve on little things and hopefully it will get bigger and better."
Source: Team Talk
Source: Team Talk