The Scot was 16-year-old striker at Queen's Park when eight players and 15 staff and journalists died as a result of a failed take-off on a slush-covered runway.
"I've been affected since a young boy. It was a sad time," Ferguson, 71, told BBC Sport.
"For many it's probably long forgotten but for someone like me who remembers the day, you won't forget it."
Ferguson paid tribute to those who helped rebuild the club, which went on to win the European Cup 10 years later.
"How we rose to get over that is remarkable in terms of [manager] Sir Matt [Busby] and [assistant manager/temporary manager] Jimmy Murphy and all the staff at the time," he said.
"It was a fantastic group of young men who were destined to be great and that was the tragedy of it in how it was taken away from them."
And Ferguson says the event is one that should not be forgotten.
"When you were caught up in the aftermath of it and the publicity, and when the papers detailed what had happened, you couldn't help but feel that enormous loss for anyone football-minded," he added.
"That has carried on for a long, long time and every year you have to remember that."