Hooper has been linked with a move south of the border, with Barclays Premier League newcomers Hull City reportedly the latest club set to join the race for his signature.
The forward showed once again why he is attracting attention by netting a double in Sunday's William Hill Scottish Cup final against Hibernian, as Celtic claimed a domestic double.
Asked if he would be happy to take over scoring duties if Hooper did leave ahead of the new campaign, Watt said: "I'm not going to say no. I want to play and I want to score goals, but I'm not going to think about it until the time comes.
"I would like to see him stay because he is a big player for us and scores a lot of goals. You can't really buy that unless you're paying £10million or £15million for a player. He's a smart player and he tries to help you at every opportunity so it's good for me."
Watt enjoyed a positive start to the campaign and grabbed plenty of plaudits when he netted the winner against Barcelona in the Champions League in November.
But the 19-year-old admits he was frustrated by his lack of match action after the turn of the year.
He said: "It was a good first half of the season, I couldn't have asked for more. The second half was pretty slow and I didn't play as much. It's just one of those things.
"When the full squad is fit, it's hard to get games. But I'm still there supporting them and wanting them to do well and I'm glad they won the double.
"They are all friends and I'm happy for them if they are scoring goals. I want them to do well. Obviously I want to play but it's just one of those things."
- Sports & Recreation