"If Gary were to get a call-up for England it would be fantastic for the lad," said the United boss.
"I would not be concerned at all. In fact, I would be really pleased for him because I think it would give him a great boost.
"He deserves it after what he has gone through over the last year and a half.
"The perseverance he has shown and the faith he has in himself has been tremendous."
Unlike team-mate Ryan Giggs, who abandoned his Wales career at around the same age, Neville has given no indication he does not want to add to his 85 caps.
There is no doubt Neville's loyalties remain at Old Trafford but Ferguson is confident the opinionated Bury-born star could combine appearances for club and country.
"He has been out for 18 months, which is a long time," said Ferguson.
"But he is such a determined lad, I am sure he would cope with the rigours of playing club football as well as internationals."