The 61-year-old Italian is expected to be confirmed as Steve McClaren's successor in the next few days after the Football Association approved his appointment on Thursday evening.
"There's a tremendous pressure on the English coach, which Fabio will understand when he's two minutes into the job," he said.
"It's not going to be an easy job. There's a lot of work to do with the England team to get them to the level everyone expects, so I hope he'll get the support he needs.
"But what Fabio has got is experience. I've spoken for a long time about the necessity of a national team manager to be experienced and to have a good CV and a presence and be the right age. Fabio Capello has all those things.
"He will definitely command the respect of the players."
Meanwhile, Ferguson has played down suggestions that Capello's limited grasp of the English language will prove a stumbling block in his ability to communicate ideas to his players.
"Fabio's English is okay," added Ferguson. "I've never had any problem speaking to him. I was reading about the problem with the language Rafael Benitez had when he came to Liverpool.
"But maybe Rafa couldn't speak English, whereas Fabio can. That's a big advantage."