The 58-year-old star addressed the 28-year-old actor's recent troubles in an interview with Indiewire earlier this week.
"You're a target," the actor said of himself and other celebrities. "You have to be really adept at tap dancing and dodging the bullets, and sometimes you get hit. Sometimes mortally. It's pretty bad."
LaBeouf recently made headlines after he was arrested at a Broadway performance in June. The arrest was the latest incident in a series of bizarre antics that include "meta-modernist" plagiarism and his "#IAMSORRY" art exhibit where he wore a paper bag over his head. He is currently "voluntarily receiving treatment" for alcohol addition.
"When I see somebody like Shia LaBeouf with the bag on his head and stuff, my heart goes out to the poor guy," Gibson continued. "I think he's suffering in some way, or why would he do that?"
"I'm sure he's going through some kind of personal, kind of very painful, cathartic thing that he has to exorcise and get out there," he elaborated. "He'll probably play it out and come back. Whatever it happens to be, he'll be alright. I actually like the kid. I think he's good."
Gibson will next appear as Conrad Stonebanks in The Expendables 3 on August 15. LaBeouf is scheduled to star in Fury on November 14, despite having announced his intent to retire from public life in January.
Notable deaths of 2014 [PHOTOS]