With a breed as large as yours it's often advised to wait until he's fully grown.
If you neuter too young the growth plates in his legs won't have closed. This results in a taller dog and also upsets the proportions between upper and lower leg, causing changes in angulation and increased potential for cruciate ligament injuries. It also means that he would be at increased risk of developing problems such a hip dysplasia in later life.
One study in particular has found that early neutering seems to increase the prevalence of cruciate damage, hip dysplasia and lymphosarcoma. Whereas late neutering increases the risk of hemangiosarcoma and mast cell tumours.
Info here and here.
Studies have now shown that neutering does not reduce the risk of prostate cancer. One study demonstrated that prostate cancer is more prevalent in neutered dogs, another similar study found the risk of occurrence was the same regardless of whether the dog is neutered or entire.
In addition, studies have shown that early neutering of nervous dogs can actually worsen the problem. People often feel that fear aggression can be fixed by neutering, when in fact neutering removes the hormones which are involved in serotonin uptake, calming anxiety and helping support dogs that are sensitive and nervous in certain situations. Removing those hormones in these dogs is likely to make the situation worse, not better.
Some dogs that suffer from nerves or fearfulness can develop much worse symptoms after neutering, as well as being much harder to work with or treat for the problem than they were prior to neutering.
Neutering does however significantly reduce the risk of Benign Prostatic Hyperplasia, which is present in 80% plus of entire males over the age of 5, is easy to miss and really uncomfortable/painful for the dog. I have had a dog with this condition myself. In his case it was cystic and extremely painful and he was passing a lot of blood. It required a lot of expensive treatment over a period of a couple of months and once the symptoms were under control he was neutered, his prostate shrank down and he was fine from then on.
All in all it's a bit of a minefield and something best discussed with your vet before making a decision as to when or even if it's right for your dog.