Ferguson rates Gerrard up there with Graeme Souness as one of the best midfielders in Liverpool's history.
"If you look at their great midfield players Souness stands out above them all, but Gerrard comes into it," said Ferguson.
"Those two were probably the best midfield players Liverpool have ever had.
"The amazing thing is Gerrard's played every minute of every game in the Premier League this season.
"That must be the first time he's ever done it and it's remarkable when you consider he is 32."