Weigl has established himself as an influential presence in Thomas Tuchel's side since moving to Signal Iduna Park from 1860 Munich last year.
National team boss Joachim Low has included Weigl alongside fellow U21 stars Julian Brandt and Joshua Kimmich, all of whom are yet to be capped at senior level, in his plans for the Euros and former Bayern Munich coach Hitzfeld believes the BVB star deserves the recognition.
"For me Julian Weigl is the player of this season – a newcomer – from all the youngsters who made it," he told Omnisport.
"He played so cool, so convincing. He played like an experienced player during his first season in the Bundesliga.
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"He has very good qualities, is tactically very intelligent, technically good. Someone to play basic passes but also someone who can make the game fast."
Another youngster selected on the back of a breakthrough campaign is Schalke forward Leroy Sane, who Hitzfeld believes could be a decisive option off the bench for Low.
"Sane has good qualities, played a great season," he added. "He can do great individual actions.
"Maybe he can decide games when he comes from the bench because he's extremely dangerous through his individuality."