United secured their passage to the next round after beating Zorya Luhansk 2-0 on Thursday evening thanks to goals from Henrikh Mkhitaryan and Zlatan Ibrahimovic.
And Scholes believes Jose Mourinho's side should fear no one in the next stage.
"I wouldn’t be worried by any of those teams to be honest with you." said Scholes on BT's post-match coverage.
"I think United have got a really good squad, they’re starting to play some really good football and rightly so they’re favourites to win this competition, I can see them going all the way.
"There isn’t one team in there that worries me."
The former England international did however have time to question how successfully United would be able to balance their European efforts with their faltering league form.
"I still think with the squad that Manchester United have got, whatever team they put out I think they’ll be capable of beating anybody" he said
"The big importance is on where they are in the league. I’m expecting them to be really challenging for that third and fourth spot.
"Will their focus then go off this competition? I don’t know because you have to say they have found it difficult going from a Thursday to Sunday.
"Their record in the first five group games going from Thursday playing on Sunday hasn’t been great."