The record is currently held by Prince Naseem Hamed, who won the WBO featherweight title at 21 years and seven months old.
Itauma only turned 21 on December 28 and returns to the ring on January 24 in Manchester against durable American Jermaine Franklin.
Hall of Fame promoter Frank Warren says it is the perfect next step for the heavyweight prodigy – who drew comparisons to a prime Mike Tyson.
Itauma even wanted to try and break Tyson’s record of youngest heavyweight champ ever – set at age 20.
But after agonisingly missing the mark, he will instead settle for Hamed’s British milestone.
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Warren told SunSport: “Naz at the moment is the youngest Brit to ever win a world title and I think he can do it.
“He might bust that record. So we’ll see but for Moses, he’s ambitious, he knows what he wants, he’s very smart guy.
“We’ve just got to make sure that we make the right moves at the right time for him.”
Itauma dispatched of 37-year-old veteran Dillian Whyte in one round in Riyadh in August to score his 11th KO in 13 wins.
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Having never been past the sixth, Warren has called on Whyte’s ex-opponent Franklin to try and give the Londoner some valuable rounds.
He said: “That’s a real tough fight for him. Franklin’s never been stopped.
“He’s only got two losses on his record a few years ago, and those losses were against AJ, who’s a big puncher who never stopped him and against Dillan Whyte and everybody felt that was a very close fight.
“So this is a good start to the year, good tough fight for him. He’s fighting with a guy who’s had double the amount of fights he’s had.
“He’s no schmuck and with Moses, he’s going to have to step up. He’s only 21 and to start the year as he’s starting it, it’s in good style.
“So if he comes through this fight, and I hope he does, I think he’d be fighting for a world title before the end of the year.”
Itauma was being primed as the only threat to Oleksandr Usyk’s throne.
Usyk, 38, has vacated his WBO belt but Itauma is still the No1 ranked contender in the WBA.
And Warren added: “He may get ordered. He’s number 1 in two of the organisations.
“He’s ranked number one in both those organisations, in the WBA and the WBO he’s ranked number one.”