The 21-year old striker has signed a contract extension keeping him at Fir Park until the summer of 2015, following in the footsteps of fellow youngsters Adam Cummins, Zaine Francis-Angol, Stuart Carswell and Craig Moore.
"I am delighted, it's always great to get that wee bit of security," McHugh said.
"I've worked hard at it, even though I've not started as many games as I may have liked, and I hope the manager has recognised that.
"It's not always easy to come off the bench and have an impact but I've made a contribution; I look back at the Hibs game (when scoring the winner in December) as certainly the high point of the season.
"The aim is to try and win a regular place in the starting 11 this season and beyond."