Hendry, who won the Premier League with Rovers, believes Jones will go on to become an England regular in the future.
He told the Lancashire Telegraph: "It is a no-lose situation for all concerned. Manchester United have a young player with great potential and Blackburn Rovers have got £16.5million for a player they developed from their academy.
"I am sure the player and his agent, together with his parents, would have analysed every aspect of the move and will have been sure this was the right move.
"He is only young and United are not buying a finished product.
"But I'm sure when he gets his chance he will be able to take it and will become a fixture in the team sooner rather than later.
"It is great to see Blackburn Rovers' academy producing such players.
"The club have put a lot into their youth system and they are reaping their rewards.
"I'm sure it won't be long before Phil is playing for England, he has shown he is that good."