The 63-year-old, who has yet to commit his long-term future past the end of next season, believes the Old Trafford club will be in good hands under David Moyes, who is set to leave Everton.
"It looks to me like an intelligent appointment because he knows the Premier League well," said Wenger.
"It looks as well that it is a long-term appointment, that story has been done for a long time, but it makes sense.
"Of course it's a step up for David Moyes now because the demands will be huge when you follow a guy like Ferguson, but he looks like he can fill in with quality, competence.
"He has the experience and he knows all the Premier League players."