The AC Milan boss has little doubt that the young attacker will impress again in 2013-14 after a number of difficult months
The Italy international impressed in the first half of last term with a string of fine performances, but was unable to keep up his high level after the winter break, scoring just twice in his last 20 league games.
Nevertheless, Allegri has little doubt that the young attacker will show his true self again in 2013-14.
"Stephan has all the qualities to replicate the form that he showed last year. He just needs to stay calm and work hard to repeat what he did last year," Allegri told Milan Channel.
"He's still a kid of only 20 years and a lot has happened to him in the past few months. He will have to find a certain balance and focus on playing his own game.
"He has been training very well. Sometimes he does good things during games and sometimes he does bad things. That happens to everybody and is not a problem at all."
El Shaarawy ended last season with 16 goals in 37 Serie A appearances, but his decline in form has not deterred potential suitors, with the Rossoneri turning down a substantial offer for his services this summer.